Oriental Weavers’ H1 net profits hit 276 million Egyptian pounds

Egypt’s largest carpet-maker Oriental Weavers (ORWE.CA) reported first half net profit of 276,8  million Egyptian pounds (US$35,4 million), 10.3 percent higher a year earlier.

The group posted a net profit of 251 million Egyptian pounds in the first half of 2014.

Meanwhile, the standalone profits for the first half this year surged to 136,6 million pounds versus 110,23  million pounds a year earlier. Net sales also rose to 3 billion pounds, compared to 2,8 billion last year.