Cairo – Mubasher: The unaudited financial results of Arab Polvara Spinning and Weaving (APSW) reported a 10% year-on-year decline in its losses during the first nine months of 2019.

Net losses fell to EGP 5.73 million in the January-September period, compared to EGP 7.7 million in the corresponding period a year earlier, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, the company generated EGP 29.8 million in revenues in the nine-month period ended 30 September, down from EGP 46.81 million in the year-ago period.

It is worth mentioning that during the first half of 2019, Arab Polvara registered a net profit of nearly EGP 575,000, compared to EGP 5.34 million in H1-18.