Oriental Weavers’ Profit Jumps To EGP 219 Mln In 9 Months

Oriental Weavers Group (OW) (ORWE.CA) announced on Wednesday its consolidated financial statements for the period from January till September 2012. OW said its consolidated net profit reached EGP 219 million, an increase of EGP 34 million, compared to profit of EGP 185 million for the same period a year earlier.

OW’s issued and paid-up capital stood at EGP 450 million.

OW has announced the inauguration of its new factory ‘King Tut’ with investments estimated at $430 million and volume of employment to reach 1800 workers.