Orascom Construction achieves net income of $23m during Q1

Orascom Construction grew by 13.4% in the revenue realised by the end of the first quarter of this year, achieving $972.9m, versus $857.9 in the same period last year.

The company’s revenues in the Middle East recorded $516.9m and registered $456.3m in the United States.

The company achieved profits of $23m in this period, compared to $5.8m last year, a growth of 296.6%.

Chief Executive of the company, Osama Bishai, said the company signed contracts for more civil work and the third phase of the third line of the Cairo metro in the second quarter.

Bishay added that the company began to implement two infrastructure projects in Saudi Arabia.

Source: Daily News Egypt