Sport and Casual Wear will not sell or liquidate Alexandria Clothing Company (ACC), Dice’s subsidiary, and will return it to be profitable, Dice’s head of investor relations Gamal George told Al-Mal news website.
Dice acquired ACC in 2015 aiming to end cumulative loss which amounts to EGP 368 million incurred at the end of September 2020.
Moreover, Dice projects to record further loss decline in quarter four 2020 supported by cost control plan the company adopted.
Dice incurred a consolidated net loss of EGP 58,653,294 in the first nine months of 2020.
Dice is an Egypt-based company engaged in the casual wear garments and textile industry.
The company manufactures and distributes ready-made casual wear made of pure and mixed cotton, polyester, and viscose fabrics in different types, as well as other knitting products.
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