Arab Valves’ profits decline 90% YoY in 9 months
Updated 11/5/2024 2:42:00 PM
Arab Finance: Arab Valves Company (ARVA) posted an 89.6% year-on-year (YoY) drop in net profit after tax during the first nine months of 2024, according to the financial statement.
The company’s net profit after tax fell to EGP 1.635 million in January-September this year from EGP 15.708 million in the same period a year earlier.
Meanwhile, net sales declined to EGP 90.377 million from EGP 127.185 million.
Arab Valves is an Egypt-based public shareholding company engaged in designing and manufacturing brass valves and fittings.
The company’s product portfolio includes several types of valves, tabs, blenders, and fittings in different sizes and applications. It also produces a range of ores, which are used in a number of industrial applications.
Related News
