Egypt: Spinalex shifts to net losses in 9M-24/25
Cairo – Alexandria Spinning and Weaving Company (Spinalex) turned to net losses after tax amounting to EGP 13.59 million in the first nine months (9M) of fiscal year (FY) 2024/25, versus net profits of EGP 103.23 million a year earlier.
Basic loss per share reached EGP 0.04 as of 31 March 2025, against an earnings per share (EPS) of EGP 0.32 in 9M-23/24, according to the unaudited financial results.
Sales hiked by 26% year-on-year (YoY) to EGP 553.26 million in the July 2024-March 2025 period from EGP 440.42 million.
In May, the company's shareholders approved increasing the paid-up capital to EGP 721.44 million from EGP 641.28 million.
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