Arabia Cotton Ginning moves to profitability in Q1 FY2023/24

Updated 1/28/2024 11:08:00 AM
Arabia Cotton Ginning moves to profitability in Q1 FY2023/24

Arab Finance: Arabia Cotton Ginning Company’s registered consolidated net profits after tax and non-controlling interest of EGP 18.453 million in the first quarter (Q1) of fiscal year (FY) 2023/2024, compared to losses of EGP 8.492 million in Q1 FY 2022/2023, as per a filing on January 28th.

The firm’s revenues saw a 154% hike in Q1 of the current FY to EGP 584.988 million from EGP 230.565 million in Q1 of last FY.

ACGC is an Egypt-based company active in the textiles and clothing industry sector. The company is engaged in cotton ginning, as well as trading of its products domestically and internationally.

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