Arab Cotton Ginning standalone loss shrinks

Arab Cotton Ginning Company (ACGC) reported a 53% Year on Year decline in its standalone net loss in the first nine months

  
ArabFinance: Arab Cotton Ginning Company (ACGC) reported a 53% Year on Year decline in its standalone net loss in the first nine months of 2020, according to the company’s November 17th unaudited financial statements filed to the Egyptian Exchange.

Standalone net loss stood at EGP 3.330 million in the January-September period of 2020, compared to EGP 7.019 million incurred in the prior-year period.

ACGC hired EgyTrend Financial Consultancy as a financial advisor to evaluate its stake in El Nasr Clothes and Textiles.

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

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