Arab Finance: Arab Polvara Spinning and Weaving Company (APSW) reported a 20.28% year on year (YoY) decrease in its net losses after tax in fiscal year (FY) 2022/2023 to EGP 8.715 million, compared to EGP 10.932 million, according to the company’s unaudited financial indicators filed to the Egyptian Exchange (EGX) on July 30th.
The firm garnered EGP 27.206 million in revenues in FY 2022/2023, up 43% YoY from EGP 19.03 million.
The Company is engaged in manufacturing, marketing, and trading cotton yarn, wool yarn, silk and linen fabrics, synthetic fibers, and other kinds of textiles and polyester sewing threads.