Cairo – Alexandria Spinning and Weaving Company (Spinalex) logged net profits after tax valued at EGP 89.86 million in the first quarter (Q1) of fiscal year (FY) 2023/2024, compared to EGP 35 million a year earlier.

The listed firm posted a leap in revenue to EGP 279.14 million during the three-month period that ended on 30 September 2023, versus EGP 171.49 million

Basic earnings per share (EPS) stood at EGP 0.07 in Q1-23/24, an annual plunge from EGP 0.10, according to the income statements.

Total assets hit EGP 893.29 million as of 30 June 2023, higher year-on-year (YoY) than EGP 687.82 million.

In FY22/23, Spinalex posted 297% YoY higher net profit after tax at 103.91 million, versus EGP 35 million.

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