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FINANCIAL NEWS
Egypt-Orascom records 21.7pct increase in net income
24 May 2017
(MENAFN) Orascom Construction has recorded a 21.7 percent increase year on year in its net income amid the first quarter of the year, reaching USD28mn.
Furthermore, the firm’s earnings before interest, tax, depreciation and amortization have increased by 17 percent year on year, reaching USD57.1mn.
Meanwhile, BESIX Group, a firm of OC, continues to build on last year’s results and reported performance in the cited period of the year.
In addition, the firm’s net cash position reached USD186.8mn on 31 March, compared to USD204.1mn on 31 December, while total equity grew by 12.2 percent to USD339.9mn.
MENAFN2405201700450000ID1095507573
MENAFN2405201700450000ID1095507573
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