Arab Cotton Ginning’s standalone profits fall 17% YoY in Q1 FY2023/24

Updated 11/26/2023 11:32:00 AM
Arab Cotton Ginning’s standalone profits fall 17% YoY in Q1 FY2023/24

Arab Finance: Arab Cotton Ginning Company’s standalone net profits after tax dropped 16.6% year on year (YoY) to EGP 10.131 million in the first quarter (Q1) of fiscal year (FY) 2023/2024, compared to EGP 12.149 million, as per a filing on November 26th.

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.

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