Cairo – Mubasher: Egypt's Oriental Weavers , the world's biggest machine-woven carpet maker, reported an increase of 43.4% in net profits for the second quarter of 2016.
The company saw net profits of EGP 178 million ($19.96 million) for the second quarter of 2016, compared with EGP 124.13 million ($1 million) for the comparable period of the previous year
As for the first half of 2016, the company registered net profits of EGP 272.16 million ($30.52 million), down 1.7% from EGP 276.8 million ($31.04 million) at the comparable period of 2015.
Meanwhile, the company recorded sales revenues of EGP 3.006 billion in the first half of 2016, up from EGP 2.982 billion for the similar period of 2015.
