.Gross profits rose by 16.5 per cent year-on-year to reach LE 488 million,
suggesting a gross profit margin of 12.2 per cent versus 11.8 per cent
in 2009. Earnings before interest rose by 3.3 per cent to LE702m .
But the manufacturer has also predicted a downturn this year, with an
official telling Reuters they expect operations to retreat to 70 per
cent during the first half of 2011 .
Haitham Abdel Menem, Investor Relations Manager of the company, stated
during a conference organized by the Association of Investor Relations
Development and sponsored by Thomson Reuters that Oriental Weavers
anticipates operation rates returning to around 90-95 % by the end of
2011 .
The company expects sales growth to retreat in 2011 due to the increasing price of raw materials .” ”