The Clap:
Oriental Weavers Carpets Company has more than doubled its net profits and saw an almost 17% rise in revenues in the three months ending in March.
Revenues:
The carpet maker saw its top line grow 16.8% YoY in 1Q 2024 to EGP 2.14 billion.
Gross profit:
The company’s earnings before interest and tax rose 62.5% YoY to EGP 307.94 million.
Operating profit:
Operating income before changes in working capital rose 347.4% YoY in the quarter to EGP 56.49 million
Net profit:
The company saw its net income expand 148.1% YoY in the period to EGP 1.37 billion.
