{"id":663956,"date":"2025-04-17T00:00:00","date_gmt":"2025-04-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/17\/concrete-fashion-group-nearly-doubles-its-net-income-in-2024\/"},"modified":"2025-04-17T00:00:00","modified_gmt":"2025-04-17T00:00:00","slug":"concrete-fashion-group-nearly-doubles-its-net-income-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/17\/concrete-fashion-group-nearly-doubles-its-net-income-in-2024\/","title":{"rendered":"Concrete Fashion Group nearly doubles its net income in 2024"},"content":{"rendered":"

Concrete Fas<\/strong>hion Group\u2019s (CFG) net income after discontinued operations rose 89.9<\/strong>% y-o-y to USD 16.1 mn in 2024<\/strong>, according to the company\u2019s latest earnings<\/a>release<\/a>(pdf)<\/a>. The company attributed the improved profitability to the \u201ceffectiveness of the group\u2019s strategies post-demerger.\u201d<\/p>\n

REFRESHER-<\/strong> CFG split from Arafa Holding during a demerger this year, which also produced GETEX Holding. The two firms started trading<\/a> on the EGX in March 2024.<\/p>\n

Despite bottom line growth, the company\u2019s net sales dipped during the year<\/strong>, sliding 3.9% y-o-y to USD 144.8 mn. The drop came largely on the back of lower sales at CFG\u2019s manufacturing segment, which accounted for 79% of the company\u2019s top line. The segment\u2019s sales fell 6.6% y-o-y to USD 114.2 mn during the year due to a slowdown in export orders in 1H 2024. Meanwhile, CFG\u2019s retail segment delivered a 7.3% y-o-y sales increase to USD 30.7 mn.<\/p>\n

An Emirati store is in the works<\/strong>, with CEO Alaa Arafa saying the company plans to inaugurate its first regional store in Abu Dhabi soon.<\/p>\n

Looking ahead:<\/strong> \u201cAt home, we will continue to focus on ramping up our women\u2019s wear product line with the launch of our first full-fledged collection in stores.\u201d Arafa said. \u201cOver the coming months, we will work to further grow our client portfolio, focusing particularly on securing contracts with new clients from different European and UK markets. As was the case throughout 2024, we will prioritize higher-margin clients as we look to offset rising production and transportation costs,\u201d he added. <\/p>\n","protected":false},"excerpt":{"rendered":"

The group\u2019s net sales dipped 3.9% y-o-y to reach USD 144.8 mn in 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Fashion Group clocks strong earnings despite softer sales in 2024","related_issue":[663937],"teaser":"The group\u2019s net sales dipped 3.9% y-o-y to reach USD 144.8 mn in 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.2cd6bd9b-4764-434d-81dc-8a6a5f962e47.mp3"},"yoast_head":"\nConcrete Fashion Group nearly doubles its net income in 2024 - 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\/2025\/04\/17\/concrete-fashion-group-nearly-doubles-its-net-income-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Concrete Fashion Group nearly doubles its net income in 2024\" \/>\n<meta property=\"og:description\" content=\"The group\u2019s net sales dipped 3.9% y-o-y to reach USD 144.8 mn in 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