ArabFinance: Golden Textiles and Clothes Wool (Goldentex) (GTWL) turned to profitability during the full year ended December 31st 2021, according to financial statements filed to the Egyptian Exchange (EGX) on Sunday.
The company’s consolidated profits excluding minority interest reached EGP 1.397 million in 2021, compared to a net loss of EGP 30.514 million in 2020.
Standalone profits after tax amounted to EGP 1.938 million in 2021, versus a net loss after tax of EGP 30.123 million in the year before, financial statements showed.
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.