Orascom Construction Industries Profits Reach EGP 4.5 Bln

Orascom Construction Industries (OCIC.CA) posted net profits of EGP 4.480 billion during the fiscal year ended 31/12/2011, higher 22.8% as the company had recorded net profits of EGP 3.649 billion during the fiscal year of 2010.

The increases in profit were a consequence of the high revenues within the year as the company’s profit had reached EGP 32.722 billion in 2011, compared to profits of EGP 27.552 billion in 2010.  OCIC’s gross profits, after excluding the revenues, rose to reach EGP 8.406 billion in 2011, after having gross profits of EGP 6.784 billion in 2010.

In 2011, the company’s operating surplus reached EGP 6.734 billion, after the deduction of the general, administrative and marketing expenses, of the provisions for claims, of less customers and of accounts receivable (AR). Noting that OCIC’s operating surplus valued at EGP 4.666 billion in 2010.

OCIC reported earnings per share of EGP 19.64 during 2011, after reporting earnings per share of EGP 16.23 during FY 2010.

The company’s working capital surged to reach EGP 7.837 billion, compared to EGP 3.778 during the same comparable period. The total investments had also witnessed a rise reaching EGP 40.688 billion, noting that the investments had valued at EGP 36.903 billion in 2010.

Orascom Construction Industries’ issued capital valued at EGP 1.044 billion distributed to 208.938 million securities in which the par value amounted to EGP 5 a share.