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Arab Cotton Ginning’s consolidated profit leaps 371% YoY in H1-23/24

Arab Cotton Ginning’s consolidated profit leaps 371% YoY in H1-23/24
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Arab Cotton Ginning
ACGC
-0.33% 6.09 -0.02

Cairo – Mubasher: Arab Cotton Ginning Company posted a 371% year-on-year (YoY) surge in the consolidated net profit after tax during the first half (H1) of the fiscal year (FY) 2023/2024, soaring to EGP 304.28 million, from EGP 64.60 million a year earlier.

Revenues jumped 144% YoY to EGP 1.36 billion in H1-23/24 from EGP 560.69 million, according to unaudited financial indicators.

The earnings per share (EPS) surged 415% YoY to EGP 157,086 in the six-month period that ended on 31 December 2023 from EGP 30,468.

It is worth noting that Arab Cotton Ginning recorded a consolidated net profit of EGP 400.52 million in FY2022/2023, up from EGP 208.25 million the year before.