Egypt's Oriental Weavers first quarter net falls 15 per cent

Reuters , Tuesday 14 Jun 2011

Egypt's Oriental Weavers, the world's biggest machine-woven carpet maker, reported a 15 per cent drop in first-quarter net profit, the stock exchange said on Tuesday.

Consolidated net profit was 82.3 million Egyptian pounds, down from 97.1 million pounds in the same period a year earlier, the bourse said in a statement that gave no further details.

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