El Nasr Clothing’s consolidated profits hike 333% YoY in H1 FY2022/23
Updated 2/13/2023 9:19:00 AM
Arab Finance: El Nasr Clothing and Textiles reported a 333% year-on-year (YoY) surge in consolidated net profit during the first half (H1) of the current fiscal year (FY) 2022/2023, according to an EGX disclosure on February 13th.
The company’s consolidated net profit stood at EGP 23.59 million in the six-month period ended December 31st 2022, compared to EGP 5.44 million in the same period a FY earlier.
On the other hand, the firm achieved standalone net profits after tax amounting to EGP 10.036 million during the July-December period of 2022, up from EGP 68,287 during the same period a FY earlier.
Standalone sales soared 39% YoY, hitting EGP 129.819 billion during the six-month period ending December 31st,2022, compared with EGP 93.064 billion during H1 FY 2021/2022.
El-Nasr Clothing and Textiles was established in 1940 and merged with several companies to be nationalized at a later stage. In 1997, it was fully privatized with 92.98% of its shares sold
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