Cairo – Mubasher: Alexandria Spinning and Weaving said its net loss for the first quarter of 2016/17 narrowed 5.7% year-on-year to EGP 13.9 million from EGP 14.7 million, according to a bourse filing.  

Sales decreased to EGP 43.8 million, lower 16.5% year-on-year from EGP 52.49 million.

In the fiscal year 2015/16, the company's losses widened 6.7% to EGP 42.7 million.

The company fiscal year starts on the first of July.