Golden Textiles annual profits drop to LE9.6 m

Updated 4/18/2017 10:27:39 AM

ArabFinance: Golden Textiles & Clothes Wool (GTWL) announced in a statement sent to EGX the audited financial results for the fiscal period starting January 1, 2016, and ending December 31, 2016.

The company posted consolidated net profits of LE9,674,106, versus net profits of LE11,791,418 in the same period a year ago.

Moreover, it posted standalone net profits of LE11,167,956, versus net profits of LE12,129,654 in the same period a year ago.

The Floatation of Egyptian pound had a negative impact of LE12.930 million on fiscal year results.

It is worth to mention, the board ratified cash dividends to shareholders of LE7,141,680 (LE0.5 per share) for the same fiscal year.