Cairo-Mubasher: Alexandria Spinning and Weaving's (Spinalex)announced that its net loss increased by nearly six-fold or 565% in the fiscal year 2014/2015.

The company posted EGP 40.03 million in losses for FY14/15, compared with EGP 6.02 million in the previous year.

Spinalex's revenues reached EGP 193.36 million in FY14/15, compared with EGP 248.6 million in the preceding year.

Meanwhile, the firm suffered losses of EGP 31.4 million for the nine-month period ended March 2015, compared with EGP 496,500 for the comparable period in 2014.