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Egypt’s largest garment exporter, Arafa Investment and Consulting (Arafa Holding) (AIVC.CA) has reported on Sunday a decline of around 13.5% in its consolidated net profits for the first nine months of 2013 to US $ 5.455 million, versus US $ 6.306 million recorded for the same period a year earlier.
According to the company’s release, the profit decline is attributed to the changes in exchange rates during the nine-month period, in addition to political unrest.