Arab Cotton Ginning posts 14% YoY profit increase in 9M

Updated 5/11/2022 9:14:00 AM

ArabFinanceArab Cotton Ginning Company (ACGC) has reported a 14% year-on-year (YoY) increase in standalone net profit after tax in the first nine months of fiscal year (FY) 2021/2022, registering EGP 31.659 million, according to unaudited financial indicators filed to the Egyptian Exchange (EGX) on Wednesday.

The company’s revenue soared 111% YoY to EGP 65.317 million in the nine-month period ended March 31st.

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.