Oriental Weavers increase its sales by 46.1%
Oriental Weavers, the biggest carpet manufacturer in the Middle East, net profit rose 18.3% with 131,975 million EGP over the January-October period. In the same period last year 2002, the net profit was 111,554 million EGP. This increase in net profit occurred after the dramatic increase in sales to 800,681 million…
Egytex News Desk
Egytex
The company positively got benefit from the increase of the other inputs totals as it reached 17,683 million EGP compared by 8,586 million EGP.
On another level, the company trend of export has led to a rapid increase in the profits gained from changes occurred in foreign currency exchange as it increased from 0.031 million EGP to 10,06 million and that come in lieu of the increase of the income taxes(stimulated) to reach 19,133 million EGP compared by 8,75 million EGP .The minority share in the net profit reached 14,74 EGP.
1 US$ = 6.13 EGP
From the Egytex news archive, first published on 18 December 2003. Figures and names are as reported at the time.
