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Orascom Construction’s profits slide 17% in 9M-22

Orascom Construction’s profits slide 17% in 9M-22
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Orascom Construction
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Cairo – Mubasher: The consolidated profits of Orascom Construction Plc retreated by 16.62% during the first nine months (9M) of 2022 to net $70.20 million from $84.20 million.

Revenues of the EGX-listed firm grew to $3.05 billion during 9M-22, compared to $2.54 billion in 9M-21, according to a stock exchange statement on Thursday.

As for the separate results, the company’s losses enlarged to $23.60 million in the January-September 2022 period, compared to $14.71 million in the prior-year period.

In the first half (H1) of 2022, Orascom Construction recorded net profits of $40.50 million, down from $53.40 million in the same period in 2021.

The company’s revenues totalled $1.91 billion in the six-month period ended 30 June 2022, compared with $1.68 billion in the year-ago period.