Unirab Polvara Spinning and Weaving Company (Unirab) (APSW) announced a 68.89% year-on-year (YoY) increase in net losses after tax in 2022, according to a statement filed to the Egyptian Exchange (EGX) on February 5th.

The company’s preliminary financial results showed it incurred net losses after tax of EGP 19.392 million in 2022, up from EGP 11.482 million in 2021.

Meanwhile, revenues dropped to EGP 39.952 million in 2022, from EGP 41.852 million in 2021.

Unirab is an Egypt-based company engaged in textile manufacturing and yarn weaving. It is specialized in trading and exporting cotton yarn, wool yarn, silk and linen fabrics, synthetic fibers, and other types of colored textiles and polyester sewing threads.

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