Arab Cotton Ginning’s consolidated loss balloons over 1,800% in September-end

Updated 1/5/2023 9:15:00 AM
Arab Cotton Ginning’s consolidated loss balloons over 1,800% in September-end

Arab FinanceArab Cotton Ginning Company’s (ACGC) consolidated loss after tax skyrocketed by 1,843% year-on-year (YoY) during the first half (H1) of the fiscal year 2022/2023, according to unaudited financial statements filed to the Egyptian Exchange (EGX) on Thursday.

The company’s consolidated loss after tax ballooned to EGP 8.492 million in H1 2022/2023 from EGP 437,000 a year earlier.

On the other hand, revenue soared to EGP 230.565 million during the period that ended on September 30th from EGP 184.799 million the year before.

ACGC is an Egypt-based company active in the textiles and clothing industry sector. The company is engaged in cotton ginning and trading its products domestically and internationally.

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Loss Cotton

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