Cairo – Mubasher: Arab Cotton Ginning turned into profits during the fourth quarter of the fiscal year ended 30 June 2016, according to a bourse filing on Tuesday.
The company earned EGP 12 million in Q4 against a net loss of EGP 2.82 million for the year-ago quarter.
Over the fiscal year 2015/16, its standalone net profits jumped 376% year-on-year to EGP 28.5 million from EGP 5.98 million.
The company decided to hold its ordinary general meeting on 2 October to look into FY15/16 financials and cash dividend payout.
