OCI: Net Loss Hits EGP628.5 Million in 9 Months

By Yomna Yasser On Feb 11, 2014

The board of Orascom Construction Industries (OCI) ratified Monday the financial results for the first nine months of FY13.

These results showed losses of EGP 628.5 million, with a slump of 169.6% from EGP 9.35 million net profit in the same period a year earlier.

OCI’s revenues fell 39.8% to EGP 4.9 billion, from EGP 8.3 billion generated in the first nine months of FY12.

The company’s H1-12 consolidated financial results had reflected EGP 1.47 billion net profit, compared with EGP 2.4 billion in H1-11.