ArabFinance:  Golden Textiles & Clothes Wool (Goldentex) (GTWL) released its consolidated profit for 2019, incurring losses of EGP 10,700,097 versus posting profits of EGP 3,604,444 in 2018.

The company suffered net standalone losses of EGP 10,189,551 in 2019, against a net profit of EGP 3,753,842 last year,  according to the released financial statement.

Established in 1983 and listed in 1992, Goldentex operates within the consumer durables & apparel sector focusing on textiles. It is a subgroup of companies operating within the larger group Arafa Holding. During its Lifetime Goldentex gained the trust of many world-class customers such as Zara, Marks & Spencer, GAP, and Zegna.