Cairo – Mubasher: Arab Cotton Ginning on Thursday reported an 83% year-on-year surge in standalone profits for the first nine months of fiscal year 2017/2018, recording EGP 19.5 million from EGP 10.6 million.
Sales climbed to EGP 35.4 million in the July-March period of FY17/18, versus EGP 18.9 million in the nine-month period a year ago, the company said in a filing to the Egyptian Exchange (EGX).
The standalone financial statements of the company had previously shown a 216.6% growth in profits for the first half of FY17/18 to reach EGP 15.1 million, from EGP 4.77 million in the prior-year period.
It is worth noting Arab Cotton Ginning had posted consolidated profits of EGP 74.99 million for H1-17/18, versus EGP 84.28 million in H1-16/17, including minority shareholders’ rights.
