Cairo –  Alexandria Spinning and Weaving (Spinalex) witnessed a 152% hike in net profit after tax to EGP 13.55 million during the first half (H1) of fiscal year (FY) 2022/2023, versus EGP 5.37 million in H1-21/22.

Revenues stood at EGP 93.27 million in the six-month period that ended on 31 December 2022, an annual surge of 18% from EGP 79.29 billion, according to the income statements.

Furthermore, the earnings per share (EPS) enlarged by 152% year-on-year (YoY) to EGP 0.042 in H1-22/23 from EGP 0.017.

In the first quarter (Q1) of FY22/23, the EGX-listed firm registered net profits after tax worth EGP 1.15 million, lower by 42% YoY than EGP 1.97 million.

The revenues hit EGP 35.32 million in Q1-22/23, down 2% from EGP 35.91 million during the same period in the previous FY.

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