FILE – Constructions
CAIRO – 29 November 2018: Orascom Construction Ltd's consolidated profits rose 44.96 percent during the first nine months of 2018, recording $119.3 million, compared to $82.3 million during the same months of 2017.
The financial indicators revealed that the company accomplished gross profits of $273.2 million during the January-September 2018 period, compared to $248.8 million during the same period of 2017.
As per standalone results during the nine months, Orascom turned into profitability at $202.3 million, compared to a loss of $14.9 million during the same months of the prior year.
The company recorded profits of $32.3 million during the third quarter of 2018, compared to $23.5 million during the same quarter of 2017, with an increase of 37 percent.
Orascom Construction Ltd's consolidated profits marked a 60.6 percent increase during 2017, recording $85.1 million (LE 1.5 billion), compared to $53 million in 2016.
Orascom Construction Ltd is a public company, listed on Nasdaq Dubai and EGX. It operates within the capital goods sector, with a focus on construction and engineering.
It has companies operating across South and Central Asia, North America, Western Europe, North Africa, West Africa and the Middle East.