Egyptian carpet maker Oriental Weavers H1 profits fall 1.7%

Egyptian carpet maker Oriental Weavers Company reported a 1.7 percent fall in first half net profits.

Profits in the first half of the year reached 272.159 million pounds, compared to 276.804 million pounds in the same period in 2015.

Net sales recorded 3 billion pounds, up from 2.982 billion pounds last year. Standalone profits reached 160.692 million pounds from 136.6 million pounds.