Cairo – Mubasher: Arab Cotton Ginning Company reported standalone net profits of EGP 17.38 million in the first half (H1) of fiscal year 2021/2022, down 30% from EGP 24.94 million in the year-ago period, according to the company's unaudited financials.
The company's revenues jumped by 57% to EGP 31.42 million in H1-21/22, compared to EGP 20.03 million in the corresponding period of the earlier year.
It is noteworthy to mention that in the first quarter (Q1) of fiscal year 2021/2022, the company incurred net losses of EGP 437,000, down 91% from EGP 4.71 million in the year-ago period.
