Arafa: Consolidated Net Profits Surge 9% in 6 Months

By Yomna Yasser On Sep 15, 2013

Egypt’s largest garment exporter, Arafa Investment and Consulting (Arafa Holding) (AIVC.CA) has reported on Sunday its consolidated financial statements revealing an increase of 9% in its consolidated net profits.

Arafa Holding has registered a net profit of US$ 4.695 million during the period from 01/02/2013 till 31/07/2013.

Total long-term assets fell to EGP 193 million, compared to EGP 206 million for the same period a year ago.

Arafa’s working capital also dropped to EGP 70 million, against EGP 87 million reported last year.

Meanwhile, the company’s standalone financial statements have shown non-consolidated net profit of US$ 112 thousand in 6 months from Feb 1^st till July-end of this year, opposed to US$ 4.058 million a year ago.