Cairo – Mubasher: Arab Cotton Ginning Company (ACGC) on Sunday reported a 72.9% year-on- year loss in its standalone financial results for the first quarter of fiscal year 2018/2019.
Net losses amounted to EGP 2.55 million from July to September, down from EGP 9.43 million in the same three period a year earlier, according to a statement to the Egyptian Exchange (EGX).
The company posted a revenue of EGP 234,000 in Q1-18/19, compared to EGP 15,000 in the same period last year.
In terms of its consolidated results, ACGC's profits dropped 23.7% year-on-year to EGP 166.14 million during the three-month period ended September, from EGP 217.91 million.
