Cairo – Mubasher: Egypt’s carpet and rug manufacturer Oriental Weavers saw a decline of 10% in net profits for the year ended 31 December 2015.
The company posted net profits of EGP 339 million in 2015, down from EGP 377.4 million in the previous year, according to the company’s consolidated financial statements.
In the same vein, the company’s standalone financial statements for 2015 have reflected net profits of EGP 248 million, up from EGP 215.6 million in 2014.
The company’s board gave a nod to distributing cash dividends of EGP 0.50 per share at total amount of EGP 225 million.
The Egypt-listed rug-maker said earlier its profits rose to EGP 273.26 million for the first nine months of 2015.
