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Unirab’s loss soars 88% YoY in Q1

Unirab’s loss soars 88% YoY in Q1

ArabFinanceUnirab Polvara Spinning and Weaving Company (Unirab) (APSW) has reported an 88.09% year-on-year (YoY) surge in net loss after tax during the first quarter (Q1) of 2022, according to financial indicators filed to the Egyptian Exchange (EGX) on April 27th.

The company’s loss increased to EGP 5.291 million in Q1 2022, from EGP 2.813 million in the comparative period a year earlier.

Revenue went down to EGP 9.177 million in the three-month period ended March 31st from EGP 10.049 million in Q1 2021.

Unirab is an Egypt-based company engaged in textile manufacturing and yarn weaving. It is specialized in trading and exporting cotton yarn, wool yarn, silk and linen fabrics, synthetic fibers, and other types of colored textiles and polyester sewing threads.

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