Cairo – Mubasher: Arab Cotton Ginning Company on Tuesday reported a 97% year-on-year decline in its consolidated financial results for the first quarter of fiscal year 2018/2019.
Profits amounted to EGP 735,000 in the three-month ended September, versus EGP 22.9 million in the prior-year period, ACGC said in a filing to the Egyptian Exchange (EGX).
Sales shrank to EGP 320.6 million during in Q1-18/19, from EGP 354.9 million in the same period a year earlier.
ACGC previously posted an EGP 166.14 million in profits for FY17/18, versus EGP 217.91 million in the previous fiscal year.
