Nile Cotton Ginning 9-month net falls 46 pct

CAIRO, May 14 (Reuters) - Nile Cotton Ginning’s NCGC.CA net profit fell 46 percent to 14.5 million Egyptian pounds ($2.7 million) in the nine months to March from the same period the previous year, the stock exchange said in a statement.

The financial year begins on July 1.

The company’s net profit in the July-March period of 2006/7 was 26.8 million pounds, it said.

Shares of Nile Cotton Ginning, a popular retail stock and one of Egypt’s leading textile shares, fell 2.8 percent to 33.33 pounds at 12.15 p.m. (0915 GMT), while the main market indexes were between 0.6 and 1.5 percent up. ($1 = 5.36 Egyptian pounds) (Writing by Jonathan Wright)

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