Arab Cotton Ginning turns to profitability in 9 months

The company's revenues increased to $68mln in the July-March period

Staff Writer, Mubasher

June 24, 2022

PHOTO

Cairo – 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.

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