{"id":657232,"date":"2024-12-17T00:00:00","date_gmt":"2024-12-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/concrete-fashion-group-ends-9m-2024-in-the-green\/"},"modified":"2024-12-17T00:00:00","modified_gmt":"2024-12-17T00:00:00","slug":"concrete-fashion-group-ends-9m-2024-in-the-green","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/concrete-fashion-group-ends-9m-2024-in-the-green\/","title":{"rendered":"Concrete Fashion Group ends 9M 2024 in the green"},"content":{"rendered":"

Concrete Fashion Group\u2019s (CFG) posted a net income of USD 11.7 mn during the first <\/strong>nine<\/strong> month<\/strong>s of the year,<\/strong> up from a net loss of USD 474k during the same period last year, the company said in its latest earnings release (pdf)<\/a>. The company ending the period in the green highlights \u201cthe effectiveness of the Group\u2019s strategies post-demerger and the potential of the business going forward.\u201d <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Despite the rise in net income, revenues inched down<\/strong>, with CFG recording a 1.1% y-o-y dip in net sales to USD 102 mn during the nine-month period. A 6.3% y-o-y decline in retail sales helped bring the overall figure down, which the clothes maker attributed \u201cto the impact of a lower EGP on the segment\u2019s USD-denominated results.\u201d Net sales from its manufacturing segment rose by 0.1% y-o-y, stemming from improvements in orders from Europe and the US.<\/p>\n

What the future holds: <\/strong>\u201cWe remain cautiously optimistic about the coming year, confident that an improving macroeconomic situation at home and our regional expansion efforts will position us for accelerated growth in 2025 and beyond,\u201d said CEO Alaa Arafa.<\/p>\n

Remember: <\/strong>CFG split from Arafa Holding during a demerger this year, which also produced GETEX Holding. Both emerging firms started trading<\/a> on the EGX last March.<\/p>\n

PLUS-<\/strong> CFG\u2019s board greenlight expanding into Saudi Arabia and Oman<\/strong>, with a plan to establish wholly-owned and yet unnamed subsidiaries in the two countries given approval, according to an EGX disclosure (<\/a>pdf)<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company posted a net income of USD 11.7 mn during 9M 2024<\/p>\n","protected":false},"author":1,"featured_media":657233,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[7396,409,72,338],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-concrete-fashion-group","tag-earnings-watch","tag-enterpriseam","tag-retail","wpautop","entry"],"acf":{"mongo_id":"57eb70c6-9fb4-4906-9744-d11a94684886","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2712.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Concrete Fashion Group ends 9M 2024 in the green","related_issue":[657215],"teaser":"The company posted a net income of USD 11.7 mn during 9M 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.86459871-ddc6-47ca-84d3-3d1ed4c625c8.mp3"},"yoast_head":"\nConcrete Fashion Group ends 9M 2024 in the green - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/concrete-fashion-group-ends-9m-2024-in-the-green\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Concrete Fashion Group ends 9M 2024 in the green\" \/>\n<meta property=\"og:description\" content=\"The company posted a net income of USD 11.7 mn during 9M 2024\" \/>\n<meta property=\"og:url\" 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