Cairo – Mubasher: Oriental Weavers registered EGP 143.7 million profits ($8.7 million) during the third quarter of 2016, higher 4005.7% year-on-year from EGP 3.5 million profits ($211,000), a bourse filing revealed Sunday in light of the consolidated results.
Net profits for the first nine months surged 52.2% to EGP 415.87 million ($25 million) from EGP 273.26 million ($16.5 million).
Sales in the first nine months reached EGP 4.55 billion, compared with EGP 4.5 billion for the year-ago period.
The standalone results revealed that net profits for the first nine months jumped 73.2% year-on-year to EGP 28.57 million from EGP 16.5 million.
The stock quote was lower 0.10% to EGP 9.98 by 11:00am Cairo time on Sunday.
