Arab Finance: Arabia Cotton Ginning Company recorded a 210.1% year-on-year surge in standalone net profits after tax to EGP 10.072 million in the first half (H1) of fiscal year (FY) 2023/2024, compared to EGP 3.248 million, as per a filing on March 10th.
Meanwhile, standalone operating revenues fell to EGP 21.673 million in H1 of the current FY from EGP 24.602 million in H1 of the previous 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.