Cairo – Mubasher: The consolidated financial statements of Oriental Weavers Carpet showed a 37% year-on-year profit surge during the first nine months of 2019.
Net profits amounted to EGP 597.36 million in the January-September period, compared to EGP 436.4 million in the year-ago period, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX) on Monday.
At the level of standalone business, the company reported a net profit of EGP 499.7 million in the nine-month period ended 30 September from EGP 380.4 million in the corresponding period a year earlier.
It is noteworthy that during the first half of 2019, Oriental Weavers Carpet logged a net profit of EGP 461.83 million, up from EGP 326.39 million in H1-18, including minority shareholders’ rights.
