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Goldentex turns to profit

Goldentex turns to profit

ArabFinance: Golden Textiles and Clothes Wool (Goldentex) (GTWL) posted a consolidated net profit of EGP 4,279,182 in Quarter one (Q1) 2020, against a net loss of EGP 5,296,786 in the corresponding period, according to the company’s May 31st financial statements filed to the Egyptian Exchange.

Standalone net profit reached EGP 4,364,277 in Q1 2020, versus a net loss of EGP EGP 5,296,626 reported in Q1 2019.

In 2019, the company suffered a net loss of EGP 10,700,097, versus a profit of EGP 3,604,444 a year earlier.

Goldentex is an Egypt-based company engaged in the manufacture of textile products. The company is involved in the processing and dyeing of wool, woolen blended synthetic fiber, and industrial yarn.  

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