Dice won't sell Alexandria Clothing Company

Dice acquired ACC in 2015 aiming to end cumulative loss

  
ArabFinance: Dice 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.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities