Al Arafa Holdings for Investments & Consultancies released its H1 2012 financial results for the 6-months period ending July 31st, 2012.
Financial Highlights for Arafa Holding Consolidated Results
Breakdown by Activity
Retail Segment witnessed significant improvements driven by local retail coupled with improved operations at the UK subsidiary on the back of effective re-organizational efforts and cost cutting measures.
As a result, the retail segment had its net profit grow by 81% to reach USD 882K during H1 2012 compared to USD 486K during the same period last year.
Apparel & Tailoring Segment (“A&T”)
The Apparel & Tailoring segment maintained last year’s revenue level almost unchanged, however with more focus on external clients. A cautious customer sentiment had some effect on the A&T segment’s profitability; however we believe that the following quarters should indicate further improvements over the remaining period of the year.
The Textiles Segment witnessed a 9% growth in its revenues during H1 2012. On the net profit, however, the segment witnessed a decline of USD 254 K.
Al Arafa for Investments and Consultancies (“Arafa Holding”) is a leading player in the Textiles & Apparel industry operating a vertically integrated business model that places the Group as one of the largest export oriented and integrated apparel and textiles manufacturers in Egypt and the Middle East, and a prominent apparel retailer and wholesaler in Egypt and the UK.
Al Arafa Holdings
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