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.
Arab Valves profit drops by 80%
Updated 11/10/2020 1:50:00 PM
ArabFinance: Arab Valves Company (ARVA) reported an 80% Year on Year decline in its net profit in the first nine months of 2020, according to the company’s November 10th financial statements filed to the Egyptian Exchange.
Net profit stood at EGP 529,768 in the January-September period of 2020, compared to EGP 2,759,305 achieved in the prior-year period.
The company's sales stood at EGP 31,059,710, marking a 40.3% YoY decrease.
ADI Investment sold its 13.34% in Arab Valves capital at an average price of EGP 1.30 per each, with a total amount of EGP 13 million.
