Arab Finance: Arab Valves Company (ARVA) posted a 1224.9% year-on-year (YoY) surge in net profit after tax during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.

The company’s net profit after tax soared to EGP 10.55 million in January-September from EGP 796,272 a year earlier.

Net sales surged to EGP 93.648 million in nine months to September 30th from EGP 36.428 million the year before.  

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.