Cairo – Mubasher: Golden Textiles and Clothes Wool’s consolidated profits for fiscal year 2016 declined 18.5% to EGP 9.6 million, versus EGP 11.7 million for FY15.
Standalone profits shrank 7.9% to EGP 11.16 million, compared to EGP 12.12 million for FY15, according to a bourse statement released on Tuesday.
Consolidated sales increased in FY16 to EGP 176.10 million from EGP 165.8 million.
Foreign exchange earnings reached EGP 2.8 million in FY16, another statement said.
The company’s board recommended the distribution of cash dividends of 50 piasters per share for the year.
