Oriental Weavers achieves LE 4.9B sales in H1

CAIRO – 26 July 2017: Oriental Weavers' sales hiked 63 percent to reach LE 4.9 billion ($273 million) in the first 6 months of 2017, compared to LE 3 billion in the year-ago period, a Wednesday statement said.

Consolidated financial results revealed that net realized profit surged 74.5 percent or LE 203 million year-on-year to LE 475 million in H1 of 2017 compared to LE 272 million.

Moreover, the company's board of directors approved decreasing the issued capital from LE 450 million to LE 443.4 million, for 6.59 million shares.