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Arab Cotton Ginning turns to profitability in 9M

Arab Cotton Ginning turns to profitability in 9M
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Arab Cotton Ginning
ACGC
-0.77% 1.80 -0.01

Cairo – Mubasher: The unaudited consolidated financials of Arab Cotton Ginning Company recorded net profits of EGP 74.55 million in the first nine months (9M) of fiscal year (FY) 2021/2022, against net losses of EGP 22.71 million in the year-ago period.

The company's revenues increased to EGP 1.29 billion in the July-March period, compared to EGP 925.32 million in the corresponding period of FY20/21, according to a bourse filing on Thursday.

As for the standalone businesses, the company's net profits rose by 14% year-on-year (YoY) to EGP 31.65 million in 9M-21/22 from EGP 27.76 million.