KAZAREEN TEXTILE GROUP LTD

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

1. KAZAREEN TEXTILE GROUP LTD 2016-08-25 → present
2. HUSAM SOROUR LIMITED 2016-02-09 → 2016-08-25

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Merali's Chartered Accountants & Statutory Auditors

Audit opinion

Qualified

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going-concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions. that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. KAZAREEN TEXTILE GROUP LTD · parent
   1. Casareen France 98% · France
   2. Canaren Inc -Canada 100% · Germany
   3. Promodoro Fashion GmbH 90.7% · Germany
   4. Casual by Promodoro GmbH 100% · Germany
   5. Kazareen Dyeing Company 11% · Egypt
   6. Kazareen Textile Company 63.03% · Egypt
   7. Kazareen Dyeing Company 89% · Egypt
   8. Wan Loo 98% · Egypt · new incorporation during year 2024
   9. Wah Lung for clothing accessories 52% · Egypt · Ceased activities or under liquidation process
   10. Al Huda for ready made clothes 99% · Egypt
   11. 3F Fashion 51% · Canada · Ceased activities or under liquidation process

Significant events

• “2024 was a transformative year for the group highlighted by two main and key drivers: the near completion of the investment by Amethis in the group which closed on 4th February, 2025 and secondly the business reaping the benefits of its pivot and restructuring which was completed the previous two years driving the group business to continue executing and preparing for the next phase of growth and profits supported by the investment by and partnership with Amethis.”
• “In February 2025, Amethis, a French private equity investor, acquired a 56% controlling stake in the Group. As part of the capital reorganisation transaction, shareholders (both existing and new) injected US$22 million into the business. The proceeds were deployed as follows: US$6 million was contributed to increase the share capital of KTC Egypt, US$10 million was used to pay down bank working capital facilities, and the remaining US$6 million was provided to bolster day to day operational liquidity.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -4.9%

  £44,153,816 → £41,995,651

• Cash

  +8.4%

  £1,045,616 → £1,133,510

• Net assets

  -33.2%

  £7,671,477 → £5,126,923

• Employees

  -6.1%

  2,395 → 2,250

• Operating profit

  -27.1%

  £5,588,738 → £4,076,913

• Profit before tax

  -98.2%

  £2,397,272 → £43,095

• Wages

  -8.6%

  £7,704,456 → £7,044,754

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers