Cairo - Mubasher: The consolidated financial statements of Golden Textiles and Clothes Wool showed a surge in profits in the first quarter of fiscal year 2016-2017 by 214% year-on-year, according to a bourse filing.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that profits totalled EGP 6.6 million in Q1-FY16/17 compared to EGP 2.1 million in the same period the year before.

Sales increased by 43% to EGP 54.25 million up from EGP 37.96 million in the same period last year, the statement noted.