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FINANCIAL NEWS
Egypt’s Orascom Q3 revenue grows by 6.1pct
22 Nov 2016
(MENAFN) Egypt’s Orascom Construction proclaimed that its Q3 net income increased by 6.1 percent to USD26mn from a year earlier.
However, revenue declined to reach USD962.1mn from USD1.15bn a year earlier, while earnings before interest, taxes and amortization fell to USD40.2mn.
In addition, the firm which has operations in the MENA region and the U.S. proclaimed that recent economic situation and changes would not have negative impact on income.
Meanwhile, the company also stated that its income would not have negative impact due to the significant foreign currency component of its revenue.
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