Orascom Construction records profits of $34.4M in 6 months

CAIRO – 26 August 2019: Orascom Construction Ltd’s consolidated profits during the first half of 2020 declined 49 percent to $34.4 million, compared to $67.2 million in the same half of 2019. 

The company’s consolidated revenues recorded $1.61 billion during the six months of 2020, compared to $1.49 billion in the same period of 2019. 

As per standalone results, the company turned into losses by $6.69 million during January/June period of 2020, compared to profits of $3.16 billion in the same period of prior year. 

During the first quarter of 2020, the company recorded net profit of $24.9 million, compared to $33.7 million during the same quarter of 2019, marking a decrease of 26 percent.

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.