Cairo – Mubasher: Oriental Weavers Carpet on Sunday reported a 25.8% year-on-year decline in consolidated profits for fiscal year 2018.
The company has achieved profits of EGP 550.23 million in the 12-month period ended 31 December 2018, versus EGP 741.7 million in 2017, including minority shareholders’ rights, according to a filing to the Egyptian Exchange (EGX).
Sales rose slightly to EGP 10.4 billion last year from EGP 10.23 billion in 2017, the company added.
At the level of standalone business, profits increased to EGP 745.8 million in 2018, versus EGP 813.99 million a year earlier.
In November, Oriental Weavers Carpet posted a 27% year-on-year drop in consolidated profits for the first nine months of 2018, recording EGP 436.4 million, versus EGP 598.7 million.
Sales rose slightly to EGP 7.59 billion at the end of September from EGP 7.54 billion in the corresponding nine-month period of 2017.
At the level of standalone business, profits surged to EGP 380.4 million in the January-September period of this year, versus EGP 297.6 million in the same period a year earlier.
