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OCI profits decline 69.4% in 9M

OCI profits decline 69.4% in 9M
Photo Credit: Arabianeye - Reuters
Orascom Construction
OCIC
0.00% 217.47 0.00

Cairo – Mubasher: Orascom Construction Industries (OCI) registered a decrease of 69.4% in the first nine months of 2015, according to the company’s interim financial indicators.

OCI saw net profits of EGP 1.45 billion for this nine- month period of 2015, down from EGP 4.75 billion a year earlier.

Meanwhile, the company’s revenues stood at EGP 4.6 billion in the first nine months of 2015, compared with EGP 4.17 billion for the corresponding period of the previous year.

OCI said earlier it posted net losses of EGP 313.5 million for the six-month period ended 30 June 2015, compared with EGP 1.13 billion for the same period of 2014.