Unirab reports 1660% loss increase

Unirab Polvara Spinning and Weaving Company (Unirab) (APSW) reported a 1659% Year on Year increase in its net loss in H1

  

ArabFinance: Unirab Polvara Spinning and Weaving Company (Unirab) (APSW) reported a 1659% Year on Year increase in its net loss in the first half (H1) 2020, according to the company’s August 4th statement filed to the Egyptian Exchange.

Net loss reached EGP 10.116 million in H1 of 2020, compared to EGP 575,000 incurred in H1 of 2019.

In April, the company noted that it suffered a net loss of EGP 5,266,693 in 2019, a decrease from EGP 6,440,923 incurred in 2018.

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.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities