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Arab Polvara H1 loss deepens 55% to EGP56 mln

Arab Polvara H1 loss deepens 55% to EGP56 mln
Unirab
APSW
4.90% 5.57 0.26
The board of Arab Polvara Spinning & Weaving Co. ratified financial highlights for H1-14, which mirrored EGP 55.7 million net loss, widening 55% compared with EGP 36 million net loss in H1-13.
H1 sales totaled EGP 107.2 million, compared with EGP 136 million in H1-13.
The company’s Q1 financial results had shown EGP 22.5 million net loss, widening 43% y/y from EGP 15.8 million. FY13 financial results had mirrored GP 72.067 million net loss, compared with EGP 66.376 million net loss a year earlier.