Cairo - Mubasher: The financial indicators of Arab Polvara Spinning and Weaving (APSW) showed a rise in losses in the first quarter of 2017 by 9.2% year-on-year, due to a rise in administrative costs.
The company said in a statement to the Egyptian Exchange (EGX) that losses reached EGP 5.45 million in Q1-17 compared to EGP 4.99 million in Q1-16.
Sales grew to EGP 3.67 million in the first quarter of the year up from EGP 396,700 in the same period last year, while administrative costs went up to EGP 1.4 million from EGP 949,900.
