Cairo – Mubasher: The net profits after tax of Alexandria Spinning and Weaving Company (Spinalex) hit EGP 103.91 million during fiscal year (FY) 2022/2023.
The recorded profits were higher by 297% year-on-year (YoY) than EGP 35 million, according to the financial statements.
Meanwhile, the revenues hit EGP 279.14 million as of 30 June 2023, marking an annual surge of 163% from EGP 171.49 million.
Basic earnings per share (EPS) increased to EGP 0.32 during July 2022-June 2023 from EGP 0.10 in FY21/22.
In the first nine months (9M) of FY22/23, Spinalex posted 306% higher net profits after tax at EGP 67.94 million, versus EGP 16.75 million in 9M-21/22.
Sales widened by 53% to EGP 187.28 million in 9M-22/23 from EGP 122.39 million a year earlier, while the EPS rose to EGP 0.21 from EGP 0.05.
