Arab Finance: Arab Cotton Ginning Company (ACGC) has reported a 142% year-on-year (YoY) plunge in standalone net profit after tax in the first nine months of fiscal year (FY) 2023/2024, registering EGP 62.687 million, compared to EGP 25.901 million, according to unaudited financial indicators filed to the Egyptian Exchange (EGX) on June 5th.

The company’s revenue climbed 16% YoY to EGP 83.098 million in the nine-month period ended March 31^st, compared to EGP 71.519 million in the same period a FY earlier.

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.

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