Arab Finance: Golden Textiles and Clothes Wool (Goldentex) (GTWL) posted a 4,594% year-on-year (YoY) surge in consolidated profit attributable to the parent company during the first half (H1) of 2022, recording EGP 25.559 million, according to financial statements filed to the Egyptian Exchange (EGX) on August 14th.

Consolidated sales soared to EGP 166.474 million in H1 2022 from EGP 87.709 million in H1 2021.

As for standalone financials, the company’s net profit after tax reached EGP 25.772 million in the January-June period, up from EGP 918,293 in the same period 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.