Arab Valves profit drops

Updated 5/10/2021 12:31:00 PM

ArabFinance: Arab Valves Company (ARVA) posted a net profit of EGP 34,408 in quarter one (Q1) 2021, according to the company’s May 10th financial statements filed to the Egyptian Exchange.

This marked a Year on Year decline of 97% when compared to EGP 1,452,499 million in Q1 2020.

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.

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.