Egypt: Arab Cotton Ginning’s consolidated profits soar 120.8% YoY in FY2022/23

Arab Cotton Ginning Company (ACGC) reported a 120.8% year-on-year (YoY) surge in consolidated net profits attributable to the parent company in the fiscal year (FY) 2022/2023, registering EGP 280.204 million, compared to EGP 126.925 million, according to a disclosure on November 27th.

The company’s revenues climbed to EGP 3.366 billion last FY, up from EGP 2.075 billion in the prior year.

ACGC is an Egypt-based company active in the textiles and clothing industry sector. The company is engaged in cotton ginning, as well as trading of its products domestically and internationally.