Nile Cotton Ginning Narrows Losses To EGP 1.4 Mln; H1

Nile Cotton Ginning (NCGC.CA) has reported a net loss of EGP 1.404 million during the first half of 2012, compared to a year earlier net loss of EGP 22.167 million.

Net revenues hiked to EGP 24.045 million during H1/2012, compared to EGP 13.378 million for H1/2011.

Gross profit, after excluding the cost of sales, rose to EGP 8.652 million through H1/2012, compared to EGP 175.667 thousand during H1/2011.

Operating losses, after excluding the total expenses, reached EGP 2.308 million for H1/2012, compared to EGP 11.537 million for H1/2011.

Basic losses per share amounted to EGP 0.03 during H1/2012, compared to EGP 0.42 a year earlier.