Cairo – Mubasher: Oriental Weavers Carpet on Sunday posted a 40% year-on-year rise in consolidated profits for 2017 as a result of growth in sales.
Net profit stood at EGP 741.7 million last year from EGP 528.9 million, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).
Sales grew to EGP 10.17 billion in 2017, up from EGP 6.7 billion in 2016.
Standalone profits rose to EGP 813.9 billion last year from EGP 659.11 million a year earlier.
Given that Oriental Weavers’ profits increased to EGP 598.7 million in the first nine months of 2017, versus EGP 415.8 million in the same period of 2016.
