Goldentex sees 74% YoY profit decline in Q1 2024

Updated 7/8/2024 9:17:00 AM
Goldentex sees 74% YoY profit decline in Q1 2024

Arab Finance: Golden Textiles and Clothes Wool (Goldentex) posted a 73.8% year-on-year (YoY) decrease in net profits after tax in the first quarter (Q1) of 2024, as per a filing on July 8th.

Net profits amounted to EGP 6.41 million in Q1 2024, compared to EGP 24.502 million in Q1 2023.

Meanwhile, sales jumped to EGP 161.547 million from EGP 147.541 million.

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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