Spinalex’s profits soar 152.05% YoY in 2022: Egypt

Spinalex is an Egypt-based public shareholding company engaged in the cotton and textile industries through manufacturing, trading, and exporting

Staff Writer, Arab Finance

February 6, 2023

EGYPT MANUFACTURING

PHOTO

Alexandria Spinning and Weaving Company (Spinalex) (SPIN) reported a 152.05% increase year-on-year (YoY) in its net profits in 2022, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on February 5th.

The company achieved a net profit after tax of EGP 13.558 million in 2022, from EGP 5.379 million in 2021.

Net revenues grew to EGP 93.278 million last year, compared to EGP 79.279 million in 2021.

Spinalex is an Egypt-based public shareholding company engaged in the cotton and textile industries through manufacturing, trading, and exporting cotton flowers, yarn, thread, cotton fibres, and related textile products.

The company’s yarn manufacturing plant consists of cotton blowing, carding, drawing, roving, spinning, and winding mills.

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