Cairo – Mubasher: Oriental Weavers Carpet on Wednesday reported a 31.3% year-on-year drop in consolidated profits for the first half of 2018.
Net profit retreated to EGP 326.38 million in the six-month period ended June, from EGP 475.03 million in the year-ago period, the household durables firm said in a filing to the Egyptian Exchange (EGX).
On the other hand, standalone profits surged to EGP 211.37 million in H1-18, versus EGP 184.95 million in the same period a year earlier.
It is worth noting that Oriental Weavers achieved a net profit of EGP 204.4 million in Q1-18, up 21% from EGP 257.5 million in Q1-17.
