Unirab widens loss to EGP 14M
Updated 11/3/2020 12:10:00 PM
ArabFinance: Unirab Polvara Spinning and Weaving Company (Unirab) (APSW) reported a 137% Year on Year increase in its net loss in the first nine months of 2020, according to the company’s November 3rd statement filed to the Egyptian Exchange.
Net loss after tax stood at EGP 13.601 million in the January-September period of 2020, compared to EGP 5.735 million achieved in the prior-year period.
The company reported a net loss of EGP 10.116 million in the first half of 2020, a 1,659% increase from EGP 575,000 incurred in the same period of 2019.
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.
