Nile Cotton Ginning

A subsidiary of The Holding Co. for Cotton & International Trading, is an Egypt-based public shareholding company that operates in the cotton and textiles sector. The Company is primarily engaged in cotton ginning, trading and exporting. Its activities include cotton fibers and yarns trade, textile manufacture, ghee, oil and soap manufacture, raw materials and cotton production equipment and spare parts imports, and transportation and warehousing operations of its products. It is also involved in real estate operations, agricultural and livestock investment projects, as well as refrigerators manufacturing. The Government is in talks with NCGCs management to restart seven of the companys factories. The GoE aims to appoint a panel of consultants to advise the company on reviving these plants, which have been inactive since 2008.
Financial Performance:
Company posted a net profit of EGP1.56mn in its 1H10/11 ending December 2010, compared to a net loss of EGP19.5mn recorded in the same period the previous year. NCGC announced the sale of two poultry farms to Mansourah Poultry [MPCO] for a total value of EGP12.5mn.N/A