Cairo-Mubasher: Alexandria Spinning and Weaving's (Spinalex)losses widened 552% to EGP 39.3 million in the fiscal year 2014/2015, compared with EGP 6 million in the previous year.

The company's gross profit reached EGP 7 million in FY14/15, compared with EGP 47 million in FY13/14, according to its latest financial indicators.

Spinalex logged losses of  EGP 31.4 million in the nine -month period ended March 2015, compared with EGP 496,500 for the comparable period in the previous year.