Arab Finance: Arab Valves Company’s (ARVA) net profits after tax fell 22.3% year on year (YoY) in the first quarter (Q1) of 2024 to EGP 1.297 million, versus EGP 1.67 million, as per a statement.
On the other hand, net sales went up to EGP 28.483 million in Q1 2024 from EGP 25.659 million in Q1 2023.
Arab Valves is an Egypt-based public shareholding company engaged in designing and manufacturing brass valves and fittings.
The company’s product portfolio includes several types of valves, tabs, blenders, and fittings in different sizes and applications. It also produces a range of ores, which are used in a number of industrial applications.