Alexandria Spinning and Weaving Q1 losses hit 4.6 mln Egyptian pounds

Egypt’s state-run Alexandria Spinning and Weaving Company (Spinalex) said Wednesday its net loss after tax reached 4.6 ‍​million Egyptian pounds ($260,292) during the first quarter of 2017.

Earlier, losses stood at 14.7 ‍​million during the first quarter of 2016.

The company made revenues worth 68.2 million higher from 43.8 million pounds last year. Source: Reuters