Cairo – The unaudited financial results of Nile Cotton Ginning showed a 703% jump in its net profits to EGP 63 million in fiscal year 2019/2020, compared to EGP 7.84 million a year earlier.
Total shareholders’ equity reached EGP 452.95 million in the 12-month period ended on 30 June, up by 16.16% year-on-year (YoY) from EGP 389.94 million, according to a bourse disclosure on Wednesday.
The company’s revenues fell to EGP 7.45 million in FY19/20 from EGP 13.48 million in FY18/19.
During the first nine months of FY19/20, the company logged EGP 38.28 million in net profits, compared to EGP 3.7 million in the year-ago period.
Source: Mubasher
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