Egypt's Arabic and Polvara Spinning and Weaving Company cuts its losses by 26% in 2017

Egypt's Arabic and Polvara Spinning and Weaving Company cuts its losses by 26% in 2017

Arab and Polvara Spinning and Weaving Company, listed on the Egyptian Stock Exchange, reduced its losses in 2017 by 26.2% year-on-year to LE 17.5 million.
The company recorded a jump in sales last year to reach LE 41 million and a growth of about 1600% compared with the previous year 2016.
While net shareholders’ equity has fallen to 90% of paid-up capital over the last two years.

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