Home / Knowledge / News / Textiles / AIVC's international units witness noticeable growth in sales
AIVC's international units witness noticeable growth in sales
Sep '11
Al Arafa for Investments & Consultancies (Arafa Holding - AIVC), the leading textiles focused investment company in Egypt reports its consolidated results as at the 31st of July of FY2011.

• Despite a 13.2% decline in the first quarter of FY 2011 compared to the same period of last year; Q2 FY 2011 witnessed a 22.3% growth compared to Q2 FY 2010 revenues. Accordingly, Consolidated Revenues during the first six months of FY2011 reached USD 134.6 million with a growth of 2.7% compared to the same period of last year. This successfully reflects AIVC's strategy to restore top line within its normal levels which smoothed down the impact of the political and social events in Egypt on its consolidated profits.

• Concrete's management did great efforts to retain its market share despite of the very tough conditions of the local retail market. By the 31st of July, Concrete recorded a y-o-y sales growth of 2.5%, after witnessing a y-o-y shrink of 9.6% during the first quarter of FY 2011. It is worth noting that Concrete's contribution to AIVC's consolidated top line was partially affected by the devaluation of its operational currency (EGP) against AIVC's reporting currency (USD).

• AIVC's international operations have also witnessed a noticeable growth in sales whereby the UK investment (Baird Group) recorded a 4.8% growth during H1 2011 compared to the same period of last year. Also, AIVC's Portugal-based investment (Egyptian Portuguese Co), started to pay off as it contributed revenues of USD 10.4 million during H1 2011 which is 2.5x revenues of the same period last year.

• By the end of H1 FY 2011; AIVC reported a Consolidated Gross Profit of USD 45.3 million versus USD 44.0 million for the same period last year which was a direct result of the growth in the top line.

• Consolidated EBITDA reached an amount of USD 11.2 million with a margin of 8.3% versus USD 13.1 million with a margin of 10.0% during the same period of last year. Also, Operating Profits registered USD 6.9 million representing a margin of 5.1% compared to USD 8.8 million for the same period of FY2010 with a margin of 6.7%. Profitability was mainly affected by an increase in the SG&A cost to accelerate the top line growth and retain customer base.

• AIVC recorded a Consolidated Net Profit after Tax of USD 4.0 million for the first half of FY 2011 versus a normalized figure of USD 7.6 million for the same period last year. AIVC's management is proud that its subsidiaries are regaining momentum and showing significant improvement in results during Q2 2011 amid tough times and slow economy.

AIVC managed to add to its accomplishments through its new partnership with the leading luxury men's wear group "Ermenegildo Zegnea" in a 50:50 Joint Venture to establish a shirt factory under the name of "CAMEGIT for Garment Manufacturing" in Arafa Holding's industrial complex in Beni Suef.

It is worth noting that on August 16th, AIVC increased its paid in capital to USD 62.7 million through issuing a 1:5 stock dividend, whereby the total number of shares reached 313,500,000.

Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala

Moving towards sustainability is also a social change

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search