Spinalex is an Egypt-based public shareholding company engaged in the cotton and textiles industries through manufacturing, trading and exporting of cotton flowers, yarn, thread, cotton fibers and related textile products. The company’s yarn manufacturing plant consists of cotton blowing, carding, drawing, roving, spinning, and winding mills.
Spinalex reports 23% loss decrease
Updated 6/3/2020 12:13:00 PM
ArabFinance: Alexandria Spinning & Weaving (Spinalex) (SPIN) reported a 23.2% Year on Year decrease in its net loss for the first nine months of the fiscal year (FY) 2019/2020, according to the company’s June 3rd statement filed to the Egyptian Exchange.
Net loss reached EGP 35,690,709 in the nine-month period ended March 31st, compared to EGP 46,461,199 incurred in the corresponding period.
In May, the company signed with Mission laïque française (MLF) EGP 210-million contract for selling the company land located in Alexandria.
