Cairo – The consolidated net profits of Oriental Weavers Carpet retreated by 24.22% year-on-year (YoY) to EGP 260.05 million in the first quarter (Q1) of 2022, compared to EGP 343.19 million.
The company's revenues amounted to EGP 3.26 billion in Q1-22, up 18.2% from EGP 2.76 billion in the year-ago period, according to a bourse filing on Sunday.
As for the standalone businesses, the company's net profits rose to EGP 644.06 million in the January-March period of 2022 from EGP 82.99 million in the same period of 2021.
It is noteworthy to mention that in 2021, the consolidated net profits of Oriental Weavers Carpet increased by 9% to EGP 1.21 billion, compared to EGP 1.11 billion in 2020, including minority shareholders' rights.
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