Latest news with #spinningandweaving
Zawya
2 days ago
- Business
- Zawya
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. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
14-05-2025
- Business
- Zawya
Egypt explores investment cooperation with Chinese investors in textile sector
Egypt - Minister of Public Business Sector Mohamed Shimi has received a high-level Chinese delegation comprising 37 investors and representatives from around 25 major textile companies, according to a statement. The meeting aims to strengthen economic and investment cooperation between Egypt and China while promoting partnership opportunities in the spinning and weaving industry. It also outlined the Egyptian textile industry and the Holding Company for Cotton Spinning and Weaving's achievements in the sector. Shimi also reviewed the company's strategy in light of the national project to boost the spinning and weaving industry. This project currently includes 10 subsidiaries, all implementing a comprehensive development and restructuring plan across financial, technical, administrative, and marketing aspects. The minister explained that the national project aims to restore Egypt's global leadership in the spinning and weaving industry by offering world-class products, deploying the latest industrial technologies, and maximizing production capacity. It also seeks to increase market share and profitability and strengthen customer confidence both locally and globally. Moreover, Shimi reflected on Egypt's attractive investment components, including the geographical location, the availability of advanced industrial infrastructure, and free trade agreements with several countries. He also affirmed the availability of high-quality raw materials, particularly Egyptian cotton, and the advanced technology utilized in new factories. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
