Oriental Weavers (ORWE)

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News

4 March 2018 00:33 PM Oriental Weavers proposes EGP 620.7m dividends for 2017

Cairo – Mubasher: Oriental Weavers Carpet’s board recommended a cash dividend distribution of EGP 620.76 million for 2017. The board proposed retaining profits of about EGP 173.49 million for 2019, the company said in a filing to the Egyptian …

Financial Results

4 March 2018 11:56 AM Oriental Weavers profits surge 40% in 2017

Cairo – Mubasher: Oriental Weavers Carpet on Sunday posted a 40% year-on-year rise in consolidated profits for 2017 as a result of growth in sales. Net profit stood at EGP 741.7 million last year from EGP 528.9 million, including minority …

Financial Results

23 November 2017 01:48 PM Oriental Weavers plans EUR 12m expansions until end-2018

Cairo – Mubasher: Oriental Weavers Carpet is planning to add about eight to ten looms until the end of 2018 with investments range between EUR 10 million to EUR 12 million. The company’s new expansions in its factories amounted to EGP 324 million …

Banking and Finance

22 November 2017 01:47 PM Oriental Weavers to get EUR 9m loan from QNB

Cairo – Mubasher: The board of directors of Oriental Weavers Carpet has approved to obtain an EUR 9 million loan from Qatar National Bank Al Ahli (QNB). The Egyptian household durables company has assigned chairman Salah Abdel Aziz to sign the …

Corporate Actions

21 November 2017 04:07 PM MubasherTrade sets 2 scenarios for EGX30 composition

Cairo – Mubasher: MubasherTrade Research has put two scenarios for the Egyptian Exchange’s (EGX) main index EGX30 composition after acquiring Global Telecom. The Financial Regulatory Authority (FRA) had previously said that a mandatory tender …

Sector Reports

16 May 0011 01:53 PM Pharos Research maintains FV of Oriental Weavers at EGP 19.80/shr

Cairo – Mubasher: Pharos Research has maintained its fair value (FV) of Oriental Weavers Carpet at EGP 19.80 per share, with an “Equalweight” recommendation. Higher export revenues are expected to boost Oriental Weavers’ margins in the fourth …

Stock Evaluations

15 November 2017 11:24 AM Oriental Weavers Q3 profits decline 14%

Cairo – Mubasher: Oriental Weavers Carpet on Wednesday reported a 14% year-on-year drop in consolidated profits for the third quarter of 2017 due to higher expenses. Net profit amounted to EGP 123.7 million in the three-month period ended …

Financial Results

30 October 2017 02:41 PM OUD to invest EGP 3bn in new urban cities in 2018

Cairo – Mubasher: Oriental Urban Development (OUD), a subsidiary of Oriental Weavers Group, will pump EGP 3 billion into the establishment of new urban cities in 2018. OUD is partnering with B2B Company for investment and real estate marketing to …

Companies Investments

11 September 2017 01:12 PM Oriental Weavers approves capital cut through cancelling treasury stocks

Cairo – Mubasher: Oriental Weavers’ extraordinary general meeting (EGM) on Monday approved to reduce issued and paid-up capital to EGP 443.3 million from EGP 450 million through cancelling treasury stocks. The EGM approved making amendments to …

Corporate Actions

14 August 2017 05:31 PM Oriental Weavers to discuss capital cut 10 September

Cairo – Mubasher: Oriental Weavers’ extraordinary general meeting (EGM) will discuss lowering its capital of 6.59 million shares through cancelling treasury shares on 10 September, according to a bourse filing on Monday. The EGM will study the …

Event

26 July 2017 11:29 AM Oriental Weavers Q2 profits rise 22% amid sales growth

Cairo – Mubasher: Oriental Weavers Carpet on Wednesday reported a 22% year-on-year surge in profits for the second quarter of 2017 due to an increase in sales, according to a bourse statement. In the three months ended June 2017, the company …

Financial Results

21 June 2017 11:19 AM Oriental Weavers starts capital cut procedures

Cairo – Mubasher: Oriental Weavers Group said Wednesday that it has decided to transfer the ownership of 6.6 million shares in Oriental Weavers Company – US in preparation for writing them off. The company will cut the issued capital from EGP 450 …

Insider Trading & Treasury Stocks

20 June 2017 11:13 AM Oriental Weavers sees EGP 43m block transaction

Cairo – Mubasher: Oriental Weavers’ stock saw a block transaction worth EGP 43.13 million, the Egyptian Exchange (EGX) said on Tuesday. The transaction was carried out on around 6.59 million shares (EGP 6.54 per share), the EGX added.

Corporate Actions

23 May 2017 10:52 PM Oriental Weavers expecting rise in exports

Cairo - Mubasher: Pharos Research has maintained their Equalweight recommendation on Oriental Weavers Carpet with a fair value (FV) evaluation of EGP 19.80, according to a recent report. Oriental Weavers expects substantial business from export …

Stock Evaluations

14 May 2017 10:55 AM Oriental Weavers Q1 profits leap 174%

Cairo – Mubasher: Oriental Weavers’ consolidated net profit for the first quarter of fiscal year 2017 jumped 174% to EGP 257.59 million, versus EGP 94.16 million for Q1-16. Sales increased in the first three months of FY17 to EGP 2.52 billion from …

Financial Results

3 April 2017 11:24 AM Oriental Weavers OGM approves EGP 1.4/shr dividends

Cairo – Mubasher: Oriental Weavers Group’s ordinary general meeting (OGM) has agreed on a proposal to distribute cash dividends of EGP 1.4 per share for fiscal year 2016, totalling EGP 630 million. The OGM also adopted the financial statements for …

Cash Dividends

23 March 2017 11:30 AM Oriental Weavers OGM to discuss cash dividends 2 April

Cairo – Mubasher: Oriental Weavers Group said Thursday that it will hold its ordinary general meeting (OGM) on 2 April to discuss distributing cash dividends of EGP 1.4 per share for fiscal year 2016, totalling EGP 630 million. The OGM will also …

Event

14 March 2017 10:55 AM Oriental Weavers approves land plot purchase

Cairo – Mubasher: Oriental Weavers Group said Tuesday that its board of directors has approved to buy a 34,100-square-metre land plot from Mac Carpet Company to use it for establishing a new plant. The land plot is valued at EGP 54.1 million, …

Companies Investments

13 March 2017 03:35 PM Pharos maintain Oriental Weavers FV, recommend Equalweight

Cairo - Mubasher: Pharos Research has maintained their fair value (FV) of Oriental Weavers at EGP 19.80, and downgraded their recommendation to Equalweight, mainly due to share price rally after the pound flotation. “We believe the company is well …

Stock Evaluations

13 March 2017 11:17 AM Oriental Weavers Q4 profits up 72%

Cairo – Mubasher: Oriental Weavers Group posted on Monday a rise of 71.7% in its consolidated profits for the fourth quarter of fiscal year 2016/2017 to EGP 113.07 million, versus EGP 65.84 million for Q4-15/16. Consolidated profits for FY16/17 …

Financial Results

29 November 2016 03:50 PM Pharos raises Oriental Weavers FV to EGP19.80/shr

Cairo - Mubasher: Pharos Research upgraded its fair value (FV) for Oriental Weavers from EGP 11.20 to EGP 19.80 per share on post floatation effect on the company’s fundamentals. Pharos believes that Oriental Weavers is well positioned, locally …

Stock Evaluations

27 November 2016 01:44 PM Oriental Weavers stock hits 20 – month high

Cairo – Mubasher: The shares of Oriental Weavers Carpet surged on Sunday, to hit its most high level in 20 months. The company’s stock went up 6.3% to EGP 11.7. The company’s shares recorded 1.8 million shares changed hands worth EGP 20.3 million, …

Trading Activities

13 November 2016 00:02 PM Oriental Weavers posts stronger Q3 profits

Cairo – Mubasher: Oriental Weavers registered EGP 143.7 million profits ($8.7 million) during the third quarter of 2016, higher 4005.7% year-on-year from EGP 3.5 million profits ($211,000), a bourse filing revealed Sunday in light of the …

Financial Results

10 October 2016 00:56 PM Oriental Weavers acquitted of monopoly charge

Cairo – Mubasher: Oriental Weavers was acquitted of monopoly charge as per a verdict by the public prosecution, said the company Monday in a bourse filing. In August 2015, the Consumer Protection Agency (CPA) referred the company to the public …

Corruption

4 August 2016 00:26 PM Oriental Weavers to pump $38m investments in five years

Cairo – Mubasher: Oriental Weavers Carpet said it seeks to inject new investments amount to $83 million (EGP 740 million) through the upcoming five years. The company will direct the new investments towards boosting the production capacity by 33 …

Companies Investments