Spinalex loss shrinks
Updated 6/8/2021 11:52:00 AM
ArabFinance: Alexandria Spinning and Weaving Company (Spinalex) (SPIN) incurred a net loss of EGP 19.405 million in the first nine months of the fiscal year (FY) 2020/2021, according to the company’s financial statements to the Egyptian Exchange.
In the July-March period of FY 2019/2020, Spinalex reported a net loss of EGP 35.691 million.
The company posted a net loss of EGP 14.8 million during the six-month period ended December 31st 2020, compared to EGP 18.17 million in the same period a year ago.
Spinalex is an Egypt-based public shareholding company engaged in the cotton and textile industries through manufacturing, trading, and exporting cotton flowers, yarn, thread, cotton fibres, and related textile products.
The company’s yarn manufacturing plant consists of cotton blowing, carding, drawing, roving, spinning, and winding mills.
