Arab Finance: Unirab Polvara Spinning and Weaving Company (Unirab) announced a 23.09% year-on-year (YoY) drop in net losses after tax in 2023, according to a statement filed to the Egyptian Exchange (EGX) on February 11th.

The company’s preliminary financial results showed it incurred net losses after tax of EGP 14.914 million in 2023, down from EGP 19.392 million in 2022.

Meanwhile, revenues climbed to EGP 64.700 million in 2023, from EGP 39.952 million in 2022.

Unirab is an Egypt-based company engaged in textile manufacturing and yarn weaving. It specializes 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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