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Oriental Weavers Co. for Carpets SAE, operating under the investment law and capitalized at L.E. 450 million, fully paid up, has posted for the year 2011 about L.E. 296.9 million consolidated net profits before taxes on L.E. 4,609 million consolidated net sales among other revenues. Figures compare with L.E. 403 million consolidated net profits before taxes posted for the year 2010 on L.E. 4,060 million consolidated net sales among other revenues. Meanwhile, consolidated net working capital as of 12/31/2011 declined to L.E. 403.6 million down from L.E. 575.2 million a year ago. As for long term liabilities as of the same date, they have strongly declined to L.E. 390.6 million down from L.E. 586.6 million a year ago. Meanwhile, shareholders net equity as of the same date, including the year's profits, has increased to L.E. 3,100 million up from L.E. 2,993 million a year ago. The Chairman and Managing Director is Mr. Salah Abdel Aziz Abdel Motteleb.
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