Cairo – Alexandria Spinning and Weaving (Spinalex) has achieved net profits of EGP 16.75 million in the first nine months (9M) of fiscal year (FY) 2021/2022, against net losses of EGP 19.40 million in the year-ago period.

The company generated revenues of EGP 122.39 million in 9M-21/22, up 51% from EGP 81.05 million in the corresponding period of the earlier year, according to a bourse filing on Thursday.

It is noteworthy to mention that in the first half (H1) of FY21/22, the company recorded net profits of EGP 5.37 million, versus EGP 14.8 million in the same period of FY20/21.

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