Cairo – Mubasher: The unaudited standalone financial results of Arab Cotton Ginning showed net losses of EGP 3.33 million in the first quarter (Q1) of fiscal year 2020/2021, down by 53% year-on-year (YoY) from EGP 7.01 million.

Revenues increased to about EGP 427,000 in the July-September period from around EGP 8,000 in the year-ago period, the company said in a bourse disclosure on Tuesday.

During FY19/20, Arab Cotton Ginning turned to net losses of EGP 188.39 million, against net profits of EGP 1.66 million a year earlier, the consolidated financial results showed.