Arab Finance: Arab Cotton Ginning Company’s (ACGC) standalone net profits after tax soared 210% year on year during the first half (H1) of the fiscal year (FY) 2023/2024 to EGP 10.072 million from EGP 3.248 million, as per the financial indicators.
On the other hand, standalone revenues saw a 12% annual decrease to EGP 21.673 million in H1 of the current FY, down from EGP 24.602 in H1 of last FY.
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.