Oriental Weavers: Net Profit Surges 14.5% in H1

Egypt’s leading carpet manufacturer Oriental Weavers (OW) (ORWE.CA) announced on Thursday its financial results for H1-14, showing EGP 251 million net profit (US$35.1 million), with 14.5% growth year-over-year from EGP 219.2 million.
H1 standalone financial results showed EGP 110.2 million net profit, compared with EGP 104 million.
Financial statements for Q1-FY14 showed EGP 154.1 million net profit, with growth by 35% from EGP 114.2 million in the same period a year earlier.
The company’s FY13 net profit rose 29% to EGP 369 million, from EGP 285 million in FY12.