Cairo – Mubasher: Alexandria Spinning and Weaving (SPINALEX) said it reported net losses of EGP 8.48 million for the fourth quarter of the fiscal year 2015/16, compared with EGP 8.66 million for the same period of the previous year.

The company posted net losses of EGP 42.7 million for the fiscal year 2015/16, compared with EGP 40.03 million for the similar period of the preceding year.

The company’s revenues went down by 5.5% for the fiscal year 2015/16, as it reached EGP 18.2 million down from EGP 19.3 million a year earlier.