Close ad

Egypt's Arafa nine-month net profit halves

Reuters, Tuesday 13 Dec 2011

Country's biggest garment exporter posts $6.5 million in net profits

Arafa Holding, Egypt's biggest garment exporter, posted a 50 per cent fall in consolidated net profit to US$6.5 million for the nine months from February to October, the stock exchange said on Tuesday.

The firm, which specialises in menswear and exports 75 per cent of its goods mainly to Europe, made net profit of $13 million in the same period a year earlier.

Arafa's financial year ends on 31 January.  

Short link:

 

Also In Economy

# Egypt’s 2026 priority remains lowering debt, allocating health funds, improving exports: PM Madbouly
# World Bank warns global standards reshape economy, leave developing nations behind
# CBE governor urges Arab central banks to cooperate for regional financial stability
# Egypt, EBRD ink 6 MoUs to bolster private sector investments, sustainable development
# All you need to know about Egypt 2nd tax facilitation package
# Egypt’s trade deficit narrows by 27.6% in September as exports rise: CAPMAS
# Egypt monthly headline inflation falls 0.2% in November on lower food prices
# ITI Integrating Economies Strengthens FDI Attraction Across 21 African Countries
#