Cairo – Mubasher: Alexandria Spinning and Weaving Company (Spinalex) logged net profits after tax worth EGP 103.23 million in the first nine months (9M) of fiscal year (FY) 2023/2024, an annual leap from EGP 69.86 million.
The sales hiked to EGP 440.42 million in 9M-23/24 from EGP 187.28 million a year earlier, while the earnings per share (EPS) increased to EGP 0.32 from EGP 0.22.
Total assets hit EGP 1.09 billion as of 31 March 2024, up from EGP 888.47 million at the end of June 2023, according to the income statements.
Financials for Q3-23/24
In the third quarter (Q3) of FY23/24, the net profits of Spinalex reached EGP 29.52 million, down year-on-year (YoY) from EGP 56.03 million
The company recorded net sales amounting to EGP 163.09 million in Q3-23/24, higher YoY than EGP 93.73 million. Additionally, the EPS plummeted to EGP 0.09 from EGP 0.17.
During the first half (H1) of FY23/24, the EGX-listed firm generated 433% YoY higher net profits at EGP 73.70 million, compared to EGP 13.83 million.
