Arab Finance: Arab Cotton Ginning Company (ACGC) has reported a 18% year-on-year (YoY) plunge in standalone net profit after tax in the first nine months of fiscal year (FY) 2022/2023, registering EGP 25.901 million, compared to EGP 31.659 million, according to unaudited financial indicators filed to the Egyptian Exchange (EGX) on June 12th.
The company’s revenue climbed 9% YoY to EGP 71.519 million in the nine-month period ended March 31st, compared to EGP 65.317 million in the same period a FY earlier.
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.