Arab Finance: Golden Textiles and Clothes Wool (Goldentex) (GTWL) registered a 2,024.4% year-on-year (YoY) surge in consolidated profit attributable to the parent company during the first nine months of 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on November 10th.

The company’s consolidated profit excluding minority interest soared to EGP 32.567 million in the nine months ended September 30th from EGP 1.533 million in the same period a year earlier.

Consolidated net sales jumped to EGP 245.757 million in January-September from EGP 126.087 million in the same period last year.

Furthermore, standalone net profit after tax increased to EGP 32.893 million in the period from January 1st to September 30th from EGP 1.95 million in the same period last year.

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.