Oriental Weavers (ORWE)

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News

20 March 2022 03:14 PM Oriental Weavers Carpet to open 4 new sales branches

Cairo – Mubasher: The board of Oriental Weavers Carpet has approved setting up four new sales branches in Egypt. The showrooms will be inaugurated in Dakahlia’s Mansoura, Sheikh Zayed City in Giza, Badr in El-Beheira, and El-Qanater El-Khayreya in …

Companies Investments

23 February 2022 11:26 AM Oriental Weavers Carpet's profit jumps 9% in 2021; dividends proposed

Cairo – Mubasher: The consolidated net profits of Oriental Weavers Carpet increased by 9% to EGP 1.21 billion in 2021, compared to EGP 1.11 billion in 2020, including minority shareholders' rights. The company's sales retreated to EGP 11.4 billion …

Financial Results

21 December 2021 00:20 PM Oriental Weavers Carpet targets $15m investments in 2022

Cairo – Mubasher: Oriental Weavers Carpet targets $15 million investments as part of the company's plan for 2022. The company will also equip some factories with new looms and machines and raise their efficiency to increase production, according …

Companies Investments

16 December 2021 00:47 PM Oriental Weavers Carpet sees EGP 300m block deal

Cairo – Mubasher: The Egyptian Exchange (EGX) has announced an EGP 300.213 million trading block deal on the shares of Oriental Weavers Carpet. The block deal was implemented on 37.063 million of the company's shares, according to a bourse filing …

Companies Investments

8 December 2021 00:02 PM Oriental Weavers Carpet considers selling, liquidating unit in China

Cairo – Mubasher: Oriental Weavers Carpet will consider selling or liquidating its subsidiary in China, according to a bourse filing on Wednesday. The company has authorised the executive management to conduct a study and make a decision on …

Companies Investments

14 November 2021 11:11 AM Oriental Weavers Carpet's profit leaps 58% in nine months

Cairo – Mubasher: Oriental Weavers Carpet recorded consolidated net profits of EGP 960.24 million in the first nine months of 2021, a surge of 57.9% year-on-year (YoY) from EGP 607.904 million, including minority shareholders' rights.  The net …

Financial Results

9 September 2021 05:18 PM Oriental Weavers reveals impact of export subsidy programme

Cairo – Mubasher: Oriental Weavers Carpet said that the Egyptian government has been implementing a new export subsidy disbursement programme from 1 July 2020 to 30 June 2023. The average export subsidies for Oriental Weavers reach 7.5% in the …

Company News

19 August 2021 11:18 AM Oriental Weavers Carpet's profit hikes 151% in H1-21

Cairo – Mubasher: Oriental Weavers Carpet reported net profits of EGP 669.5 million in the first half (H1) of 2021, up by 151.4% year-on-year (YoY) from EGP 266.358 million, including minority shareholders' rights. The net profits attributable to …

Financial Results

11 July 2021 01:55 PM Oriental Weavers Carpet approves $13m loan deals

Cairo - Mubasher: The board of directors of Oriental Weavers Carpet approved the authorisation of the Managing Director and CEO, Salah Abdel Aziz, to sign a promissory note worth EUR 5 million ($5.93 million) with Attijariwafa Bank. The CEO was …

Company News

30 May 2021 11:58 AM Oriental Weavers Carpet records EGP 343m profits in Q1

Cairo – Mubasher: Oriental Weavers Carpet achieved a consolidated net profit of EGP 343.19 million during the first quarter (Q1) of 2021, higher 73% compared to EGP 197.95 million in Q1-20, according to a bourse disclosure on Sunday. The net …

Financial Results

1 April 2021 03:28 PM Oriental Weavers Carpet to pay EGP 1/shr dividends for 2020

Cairo – Mubasher: The ordinary general meeting (OGM) of Oriental Weavers Carpet approved a proposal to distribute cash dividends of EGP 1 per share for 2020. The dividends are scheduled to be paid in April, the company said in a statement to the …

Cash Dividends

29 March 2021 00:49 PM Oriental Weavers Carpet's unit acquires 1.4% of Egyptian Propylene

Cairo – Mubasher: Oriental Weavers Carpet announced that its 99%-owned subsidiary Oriental Weavers International acquired 1.41% of the Egyptian Propylene and Polypropylene Company (EPP) for a total value of $7.8 million. The EPP, located in Port …

Mergers and Acquisitions

28 February 2021 00:00 PM Oriental Weavers Carpet posts EGP 1.11bn profit in 2020; dividends proposed

Cairo – Mubasher: Oriental Weavers Carpet logged EGP 1.11 billion in consolidated net profits during 2020, up by 29.9% year-on-year (YoY) from EGP 855.07 million, including minority shareholders’ rights. The net profits attributable to the parent …

Financial Results

3 December 2020 00:46 PM Oriental Weavers Carpet receives EGP 235m under export support initiative

Cairo – Mubasher: Oriental Weavers Carpet has received EGP 235 million as a settlement of overdue export subsidies, under the latest initiative announced by the Ministry of Finance, according to a bourse disclosure on Thursday. Under the …

Company News

11 November 2020 11:38 AM MSCI deletes Oriental Weavers Carpet from Small Cap Index

Cairo – Mubasher: MSCI Inc., the provider of research-based indexes and analytics, announced the deletion of one Egyptian stock from the MSCI Global Small Cap Index. Oriental Weavers Carpet’s stock will be deleted from the index as of 30 November, …

Stock Evaluations

8 November 2020 11:06 AM Oriental Weavers Carpet reports EGP 608m profit in 9M

Cairo – Mubasher: Oriental Weavers Carpet logged consolidated net profits of EGP 607.904 million in the first nine months of 2020, slightly up from EGP 597.367 million in the year-ago period. Meanwhile, the company’s sales retreated to EGP 6.667 …

Financial Results

26 October 2020 05:33 PM Oriental Weavers Carpet to take part in new export subsidy initiative

Cairo – Mubasher: Oriental Weavers Carpet will apply to the initiative launched by the Ministry of Finance for the immediate payment of the due export subsidies. Under the new initiative, export companies will receive 85% of the due export …

Company News

18 October 2020 00:47 PM Yasmine Khamis named Chairman of Oriental Weavers Carpet

Cairo – Mubasher: The board of directors of Oriental Weavers Carpet approved the appointment of Yasmine Mohamed Farid Khamis as a Non-Executive Chairman, replacing Salah Abdel Aziz Abdel Motaleb. In addition, the board also approved the …

Board of Directors

16 August 2020 06:11 PM Oriental Weavers Carpet's H1 profit drops 42%

Cairo – Mubasher: The net profits of Oriental Weavers Carpet slumped by 42.32% year-on-year (YoY) to EGP 266.358 million in the first half (H1) of 2020 from EGP 461.829 million. The company’s sales retreated to EGP 4.078 billion in the six-month …

Financial Results

7 June 2020 11:53 AM Oriental Weavers Carpet’s profit falls 10% in Q1-20

Cairo – Mubasher: The consolidated financial statements of Oriental Weavers Carpet showed a 10.13% year-on-year (YoY) drop in its net profits to EGP 197.95 million in the first quarter of 2020, compared to EGP 220.29 million. The company’s sales …

Financial Results

28 April 2020 01:18 PM Export Development Fund pays out EGP 47m to Oriental Weavers’ 2 units

Cairo – Mubasher: Oriental Weavers Carpet announced that the Export Development Fund has paid out a total of EGP46.73  million to two of its subsidiaries. Oriental Weavers International Co and Egyptian Fibers Co (EFCO) have received EGP 42.85 …

Company News

27 April 2020 11:54 AM Oriental Weavers Carpet’s shareholders approve EGP 0.65/shr dividends for 2019

Cairo – Mubasher: The ordinary general meeting (OGM) of Oriental Weavers Carpet approved a proposal to distribute cash dividends of EGP 0.65 per share for 2019. The dividends will be distributed in July, the company said in a statement to the …

Cash Dividends

13 April 2020 02:16 PM Oriental Weavers amends dividend proposal for 2019

Cairo – Mubasher: The board of directors of Oriental Weavers Carpet approved a proposal to amend the recommended cash dividends for 2019 to in response to the economic disruption caused by the novel coronavirus (COVID-19) outbreak. The board …

Cash Dividends

4 March 2020 04:41 PM EGX approves listing Oriental Weavers’ capital-raise shares

Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved a the rights issue request of Oriental Weavers Carpet to raise its paid-up and issued capital to EGP 665.1 million from EGP 443.10 million. The company will distribute 0.5 …

Corporate Actions

23 February 2020 05:00 PM Oriental Weavers Carpet announces $10m expansion plan for 2020

Cairo – Mubasher: Oriental Weavers Carpet has unveiled its expansion plan for 2020 with an initial investment cost of $8-10 million.   The company’s plan includes adding three weaving looms, one dyeing machine, two artificial grass machines, and …

Companies Investments