Unirab Polvara Spinning and Weaving Company (Unirab) (APSW) announced an 8.75% year-on-year (YoY) drop in net losses after tax in the first quarter (Q1) of 2024, according to a statement filed to the Egyptian Exchange (EGX) on April 29th.

The company’s preliminary financial results showed it incurred net losses after tax of EGP 2.785 million in Q1 2024, down from EGP 3.013 million in the same quarter a year earlier.

Meanwhile, revenues increased by 84.85% to EGP 25.433 million during the first three months of this year from EGP 13.759 million in the January-March period of 2023.

Unirab is an Egypt-based company engaged in textile manufacturing and yarn weaving. It specializes 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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