Arab Cotton Ginning’s consolidated profits balloon in 2021

Updated 3/29/2022 9:47:00 AM

ArabFinanceArab Cotton Ginning Company (ACGC) reported a surge in consolidated profit after tax during the full year ended December 31st 2021, according to the company's unaudited financial indicators filed to the Egyptian Exchange (EGX) on Tuesday.

The company’s consolidated profits after tax soared to EGP 26.342 million in 2021, from EGP 692,000 in 2020.

On the other hand, revenue edged lower to EGP 533.782 million in 2021, from EGP 563.741 million the year before.

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.