Arab Finance: Unirab Polvara Spinning and Weaving Company (Unirab) reported a 30.72% year-on-year (YoY) hike in net loss after tax for the first nine months of 2023, according to the unaudited financial income statement filed to the Egyptian Exchange (EGX) on October 29th.

The company incurred a net loss of EGP 11.666 million in the January-September period of 2023, up from EGP 16.839 million in the year-ago period.

The company recorded revenues of EGP 43.640 million in the nine-month period ended September 30th, compared to EGP 28.771 million in the same period last year.

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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