Orascom Construction records profits of $67.2M in 6 months

CAIRO – 27 August 2019: Orascom Construction Ltd announced that its consolidated profits during the first half of 2019 declined 23 percent to $67.2 million, compared to $87 million in the same half of 2018.

According to released data, the company’s consolidated revenues recorded $1.4 billion during the six months of 2019, compared to $1.5 billion in the same period of 2018.

As per standalone results, the company turned into profitability of $3.16 million during January/June period of 2019, compared to loss of $1.4 billion in the same period of prior year.

During the first quarter of 2019, the company recorded net profit of $33.7 million, compared to $35 million during the same quarter of 2018.

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.