Cairo – Mubasher: Orascom Construction, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, on Wednesday reported a 37% year-on-year increase in consolidated profit for the third quarter of 2018.

Net profits stood at $32.3 million during the three-month period ended September, versus $23.5 million in the year-ago period, the company said in a filing to the EGX.

Revenue shrank to $728.8 million in Q3-18 from $805.4 million in the same period a year earlier.

In the first nine months of the year, the company logged $119.3 million in profits, versus $82.3 million for the corresponding period of 2017.

At the level of standalone business, the company generated profits of $202.3 million at the end of September, against a net loss of $14.9 million in the prior-year period.

Orascom Construction previously posted $87 million in consolidated profits during the first half of 2018, versus $58.8 million in H1-17.