ArabFinance: Nile Cotton Ginning Company (NCGC) settled EGP 25 million indebtedness with National Bank of Egypt (NBE), according to the company’s June 2^nd statement filed to the Egyptian Exchange.

In the first nine months of the fiscal year 2019/2020, the company posted net profit reached EGP 38,278,286, a 21% increase from EGP 2,704,398 achieved in the prior-year period.

Nile Cotton, a subsidiary of Holding Company for International Trade and Cotton, is an Egypt-based public shareholding company that operates in the cotton and textiles sector. The unit is primarily engaged in cotton ginning, trading, and exporting.