Arab Finance: Arab Cotton Ginning Company (ACGC) turned to profitability during the fiscal year 2021/2022, according to consolidated financial indicators filed to the Egyptian Exchange (EGX) on Monday.
The company posted a consolidated net profit after tax of EGP 126.925 million in FY 2021/2022, compared to a net loss of EGP 23.047 million a year earlier.
Revenues soared to EGP 2.075 billion during the year that ended June 30th from EGP 1.276 billion the year before.
ACGC is an Egypt-based company active in the textiles and clothing industry sector. The company is engaged in cotton ginning and trading its products domestically and internationally.