FINANCIAL NEWS

Egypt’s Orascom net profit hit USD100.48m in Q1

05 Oct 2015

(MENAFN) Orascom Construction Industries total net profit reached USD100.48 million during the first quarter of 2015, adding that total revenues amounted to USD203.62 million.

During the same quarter of the preceding year, the Egyptian company registered USD26.45 million in losses, and USD292.71 million in revenues, the company announced in an official statement.

During the quarter, the company’s standalone profits reached USD50.34 million. In 2013, the company’s losses totaled USD178.17 million, while in 2014 it surged to USD585.42 million in profits.

The company stressed that its ownership is not tied to the Netherlands’ Orascom Construction Industries (OCI NV) or the Emirati Orascom Construction Limited.

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