Egypt’s Kabo posts six-month net loss – bourse
The firm posted a net loss of 2.6 million pounds in the same period of 2009, the exchange added.
March 1, 2011 3:50 by Reuters
Egyptian garment maker El Nasr Clothing & Textile Co (Kabo) reported a net loss of 429,291 Egyptian pounds ($72,870) for the six months to end-December, the stock exchange said on Tuesday.
The firm posted a net loss of 2.6 million pounds in the same period of 2009, the exchange added.
On Jan. 18, Kabo reported unaudited net profit for July-Dec 2010 of 3.36 million pounds versus 860,000 for the same period a year earlier.
Kabo, which produces underwear, nightwear and outerwear for men, women and children, exports 28 percent of its output. Twenty percent of exports are sold in non-Arab countries, mainly the United Kingdom, Germany and France, under private labels such as Britain’s Tesco.
The remaining 8 percent of Kabo’s exports are sold in Arab countries under the company’s flagship brand Jil.
(Reporting by Shaimaa Fayed)
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