** EARNINGS WATCH- Oriental Weavers reported a consolidated net profit of EGP 528.9 mn in 2016, up from EGP 339.1 mn a year earlier, the company said in its earnings release. It sees “export performance in [USD] terms continuing to recover and our successful response to the floating of the EGP locally, further growth in 2017 looks assured. Orders are in hand from top customers, new clients are lined up and opportunities to expand online sales continue: the results should be reflected in our numbers in the second half of 2017.” Oriental Weavers is proposing a dividend of EGP 1.4 per share.

Telecom Egypt posted a consolidated net profit of EGP 2.7 bn in 2016, down from EGP 3.0 bn a year earlier. The company’s revenues rose in 2016 to EGP 14.1 bn from EGP 12.2 bn the previous year. A TE board official told Reuters the company is proposing a dividend of EGP 1 per share, up from EGP 0.75 per share a year earlier.

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