Orascom Construction Industries says profits soar in Q1 2015

Egypt’s Orascom Construction Industries Company (OCI) registered first quarter net profit of 784.7 million Egyptian pounds (US$100 million), compared to 207.9 million pounds a year earlier.

The company also said in a statement to the Egyptian bourse that total revenues had amounted to 1.6 billion pounds during the first quarter of 2015 ended on March 31.

Furthermore, Orascom’s first quarter standalone financial statements revealed that the company had turned to profit by registering net profit worth 390.681 million, opposed to net loss worth 895.216 million during the first quarter of 2014.