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Cairo – Mubasher: Spinning and weaving in Arab and Polvara countries Financial indicators for the first half of this year show a 89.25% decline in year-on-year losses.
The company recorded a net loss of £ 575,000 from the beginning of January to the end of June, compared to £ 5.34 million in the same period last year.
Polvara attributed its losses to a total loss of 4.02 million pounds in the first half of 2018 to 1.62 million pounds in the first half of 2019.
The decrease in losses is due to the net loss from continuing operations of EGP 2.85 million in the first six months of this year, noting that net income from continuing operations was EGP 2.27 million as a result of the sale. waste in previous years.
Reasons also include a decrease in cash flow from operating activities for optimal use of energy, spare parts and operational requirements.
The company's revenue in the first six months of this year was 22.36 million pounds, compared with 32.04 million pounds for the same period last year.
Arab and Polvara Spinning and Weaving have recorded a net profit of 1.05 million EGP since the beginning of January and up to the end of March against 3.65 million EGP during the same period of the previous year.
The company's revenues decreased during the period, registering 12.1 million pounds at the end of March, compared to 22.28 million pounds for the same period last year.
appointments:
A court order obliging Bolvara to complete the board of directors
POLRAARA ARAB COLLABORATORS RECEIVE WORK RESULTS AND TRANSLATION OF LOSSES OVER 7 YEARS
Postponement of the work of the board of directors of "Polvara" postponed to July 21st
July 6 .. Polvara shareholders discuss results over 7 years
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