Cairo – Mubasher: The standalone net profits of Arab Cotton Ginning Company decreased by 33.8% to EGP 16.51 million in the first half (H1) of fiscal year 2021/2022, compared to EGP 24.94 million in the year-ago period.
The company generated revenues of EGP 31.42 million in the July-December period, up from EGP 20.03 million in the same period of the earlier year, according to a bourse filing on Wednesday.
It is noteworthy to mention that during the first quarter (Q1) of fiscal year 2021/2022, the company logged net losses of EGP 437,000, down 91% from EGP 4.71 million in the year-ago period.
