ArabFinance: Unirab Polvara Spinning and Weaving Company (Unirab) (APSW) reported a 1659% Year on Year increase in its net loss in for the fiscal year 2019/2020 ended on June 30th, according to the company’s statement filed to the Egyptian Exchange.

Net loss reached EGP 10.116 million in the FY 2019/2020, compared to EGP 575,000 incurred in H1 of 2019, the company said on August 4th.

In April, the company noted that it suffered a net loss of EGP 5,266,693 in 2019, a decrease from EGP 6,440,923 incurred in 2018.

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.