Arab Cotton Ginning’s standalone profit falls 4.2% YoY in FY 2021/2022
Updated 8/29/2022 11:05:00 AM
Arab Finance: Arab Cotton Ginning Company (ACGC) posted a 4.2% year-on-year (YoY) drop in standalone net profit after tax for fiscal year (FY) 2021/2022, according to the unaudited standalone financial statement filed to the Egyptian Exchange (EGX) on August 29th.
The company recorded a net profit after tax of EGP 34.22 million in FY 2021/2022, compared to EGP 35.73 million in FY 2020/2021.
Revenues grew by 121% YoY to EGP 68.78 million in FY 2021/2022 from EGP 31.07 million.
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.
