Arab Finance: Arab Valves Company (ARVA) reported an 85.24% decrease in net profits after tax in 2024, recording EGP 2.671 million, compared to EGP 18.106 million in 2023, according to the financial results released on February 9th.
Earnings per share (EPS) plunged to EGP 0.032 in 2024 from EGP 0.219 in 2023, while the net sales fell to EGP 159.023 million from EGP 171.840 million.
In the first nine months of 2024, the company’s net profits retreated by 89.6% YoY to EGP 1.635 million from EGP 15.708 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.