Cairo – Mubasher: Alexandria Spinning and Weaving Company (Spinalex) achieved net profits after tax worth EGP 67.94 million in the first nine months (9M) of fiscal year (FY) 2022/2023, signalling a 306% jump from EGP 16.75 million in 9M-21/22.

The basic earnings per share (EPS) rose to EGP 0.21 in the July 2022-March 2023 period from EGP 0.05 in the same period a year earlier, according to the financial results.

Spinalex generated sales of EGP 187.28 million during the nine-month period which ended on 31 March 2023, a 53% year-on-year (YoY) growth from EGP 122.39 million.

During the first half (H1) of FY22/23, the listed company recorded net profits worth EGP 13.55 million and recorded sales amounting to  EGP 93.27 million.