Cairo – Mubahser: Arab Cotton Ginning reported a 457.2% surge in profits in the second quarter of the fiscal year 2016-2017, according to a bourse filing.
The company said in a statement to the Egyptian Exchange (EGX) on Sunday that profits reached EGP 16.55 million in the three-month period that ended on 31 December 2016, compared to EGP 2.97 million in the same period the year before.
Profits declined by 63.5% in H1 to EGP 4.77 million from EGP 13.072 million in the first half of FY2015-2016, the statement added.
