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.