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Arab Cotton Ginning posts 14% higher profits in 9M

Arab Cotton Ginning posts 14% higher profits in 9M
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Arab Cotton Ginning
ACGC
0.99% 1.32 0.01

Cairo – Mubasher: The standalone net profits of Arab Cotton Ginning Company rose by 14% year-on-year (YoY) to EGP 31.65 million in the first nine months (9M) of fiscal year (FY) 2021/2022 from EGP 27.76 million.

The company generated revenues of EGP 65.31 million in 9M-21/22, up 111% from EGP 30.91 million in the year-ago period, according to a bourse filing on Wednesday.

It is noteworthy to mention that in the first half (H1) of FY21/22, the company's standalone net profits decreased by 33.8% to EGP 16.51 million, compared to EGP 24.94 million in the corresponding period of the earlier year.