Arab Valves’ profit jumps 49% YoY in 9 months
Updated 11/7/2023 9:51:00 AM
Arab Finance: Arab Valves Company (ARVA) posted a 48.9% year-on-year (YoY) surge in net profit after tax during the first nine months of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on November 7th.
The company’s net profit after tax soared to EGP 15.708 million in January-September from EGP 10.549 million a year earlier.
Net sales surged to EGP 127.185 million in the nine months to September 30th from EGP 93.648 million the year before.
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.
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