Home / Knowledge / News / Textiles / Oriental Weavers posts remarkable growth in 2011
Oriental Weavers posts remarkable growth in 2011
Mar '12
Mr Khamis
Mr Khamis
Oriental Weavers Carpets Company – the world's largest machine-made rug and carpet manufacturer reported an 18 percent rise in revenues in the quarter ending December 2011.

In the quarter under review, sales value reached EGP 1,331 million against EGP 1,124 million in the fourth quarter of 2010, up 18 percent. For the full year 2011, sales value reached EGP 4,609 million, up 14 percent, from a year, earlier.

In the fourth quarter of 2011, woven segment sales rose 17 percent to reach EGP 860 million, while tufted segment sales increased 14 percent to EGP 267 million. For the 12 months of 2011, woven segment sales hiked by 11 percent to EGP 3,019 million and tufted segment sales climbed 9 percent to EGP 1,001 million.

For the full year of 2011, EBITDA was EGP 448 million, down 23 percent from 2010, with margins at 10 percent versus 14 percent for 2010. At EGP 605 million, adjusted EBITDA for 2011 was down 12 percent from 2010, with margins at 13 percent versus 17 percent, respectively.

Commenting on the results, Mr. Mohamed Farid Khamis – Chairman said, “We delivered a balanced growth that reflects management's strategy of competitive pricing alongside innovation and the production of value-added products both for our valued global clients and in our own portfolio of products”.

He added, “This allowed Oriental Weavers to post double-digit sales growth in the quarter and the full year, a remarkable achievement in light of both the impact of the Arab Spring and the sovereign debt crisis in Europe, not to mention volatility in the cost of petroleum-based raw materials”.

“Moreover, a favorable sales mix compensated to some extent for spiraling raw materials prices, allowing us to close the year with margins double those of our global competitors”, he concluded by saying.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search