By Mohamed Ahmed
Oriental Weavers Company recently faced a number of challenges due to the lack in foreign currency and the euro depreciation against the dollar, which affected sales in Europe, said Oriental Weaver’s CEO Mohamed Farid Khamis.
The foreign currency deficit continues to cause decline in Oriental Weavers’ revenues; during stability, it represent 60% but they have declined to 45% during Q3 of 2015.
In an investment report from the company targeted to investors, of which Daily News Egypt received a copy, Khamis said the local market witnessed a 9% increase in annual revenues. But the slow growth of some export markets …read more
Source: Daily News Egypt
