Arab Cotton Ginning’s consolidated losses shrink 1,843% in Q1-22/23

Arab Cotton Ginning Company incurred consolidated net losses after tax worth EGP 8.49 million in the first quarter (Q1) of fiscal year (FY) 2022/2023, an annual plunge of 1,843% from EGP 437,000.

The firm generated consolidated revenues worth EGP 230.56 million during the three-month period that ended on 30 September 2022, up 25% from EGP 184.79 million in Q1-21/22, according to the income statements.

In the July-September 2022 period, the company’s standalone net losses enlarged by 56% year-on-year (YoY) to EGP 12.14 million from EGP 7.76 million.

Meanwhile, the non-consolidated basic loss per share increased by 0.01% YoY to EGP 0.04 in Q1-22/23 from EGP 0.02.