Arab cotton ginning reports earnings of EGP29.7mn in FY16
Arab cotton ginning [ACGC.CA] has just reported its FY16 financial results, with earnings of EGP29.7mn (-10% Y-o-Y). Revenues came in at EGP827mn (-18% Y-o-Y), while gross profit came at EGP97mn (-18% Y-o-Y). The decline in revenues was attributed mainly to the drop in ginning, spinning and weaving activities as cotton volumes declined. On a quarterly basis, earnings came in at EGP9mn (+52% Q-o-Q), while gross profit came in at EGP30mn (+22% Q-o-Q). Revenues came in flat at EGP225mn compared to 3Q16. (Company disclosure)
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.