Cairo – Mubasher: Arab Cotton Ginning reported a 55.8% year-on-year growth in its non-consolidated profits during the first nine months of fiscal year 2018/2019.
The Egyptian firm’s net profits logged EGP 30.47 million from July 2018 to last March, compared to EGP 19.55 million in the corresponding period of FY17/18, according to a statement to the Egyptian Exchange (EGX) on Sunday.
Meanwhile, sales rose to EGP 58.28 million in the nine-month period of FY18/19, compared to EGP 35.47 million in the year-ago period.
During the July-December period of 2018, the company’s net losses registered EGP 27.94 million, versus a profit of EGP 74.99 million in the same period a year earlier, including minority shareholders’ rights.
Sales retreated to EGP 808.47 million in H1 of FY18/19, compared to EGP 895.25 million in the prior-year period.
