Orascom Construction PLC Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 29, 2023 at 04:11 am EST
Share
Orascom Construction PLC reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 801.7 million compared to USD 1,138.1 million a year ago. Net income was USD 16.1 million compared to USD 23.9 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to USD 0.2 a year ago.
For the nine months, sales was USD 2,365.2 million compared to USD 3,052.7 million a year ago. Net income was USD 114.8 million compared to USD 57.8 million a year ago. Basic earnings per share from continuing operations was USD 1.01 compared to USD 0.49 a year ago.
Orascom Construction PLC, formerly Orascom Construction Ltd, is a United Arab Emirates-based engineering and construction contractor. The Company is primarily focused on infrastructure, industrial and high-end commercial projects in the United States, the Middle East, Africa and Central Asia for public and private clients. The Company operates under the following brands: Orascom, Contrack and The Weitz Company. The Companyâs projects cover civil buildings, heavy industries, manufacturing, petrochemicals, federal infrastructure, power generation, social infrastructure, transport, water and wastewater, design build, as well as operations and maintenance.