Cairo – Mubasher: Orascom Construction Ltd (OC) on Tuesday reported an 11% year-on-year rise in consolidated profits for the first quarter of 2018, recording $35 million from $31.5 million.

Revenues shrank to $756.8 million in the three-month period ended last March, from $1.06 billion in Q1-17, OC added in a filing to the Egyptian Exchange (EGX).

At the level of standalone business, the company has turned to losses in Q1-18 with $1.04 million, compared to standalone profits of $1.106 million in the year-ago period.

OC had previously posted consolidated profits of $85.1 million for the full-year ended December 2017, versus $53 million in 2016.