Egypt’s Textile Holding targets 3% increase in FY2018/17 revenues

Egypt’s Cotton and Textile Industries Holding Company says it targets a three percent increase in total revenues to reach around 41 million Egyptian pounds ($2.2 million) within the financial year 2017/2018.

Chairman Ahmed Moustafa said Tuesday that his company expects to reduce losses by 20.6 to register 112.7 million pounds within the financial year 2017/2018.

The company’s affiliates also seek to boost total revenues by 171.5 percent to record about 7.4 billion pounds.

They also expect to narrow losses by 51 percent to hit 1.4 billion pounds.