ArabFinance:  Alexandria Spinning and Weaving Company (Spinalex) (SPIN) announced it has incurred a net loss after tax of EGP 41.87 million in fiscal year (FY) 2020/2021, versus a net profit of EGP 97.59 million in FY 2019/2020, according to the unaudited financial indicators filed to the Egyptian Exchange (EGX).

The company has achieved revenues of EGP 120.64 million in FY 2020/2021, compared to revenues of EGP 137.26 million in FY 2019/2020.

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.