Orascom Construction plc Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 21, 2019 at 10:11 am
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Orascom Construction PLC announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 789.6 million compared to USD 728.8 million a year ago. Operating income was USD 43.7 million compared to USD 48.7 million a year ago. Net income was USD 32.2 million compared to USD 29.1 million a year ago. Basic earnings per share was USD 0.28 compared to USD 0.25 a year ago. For the nine months, sales was USD 2,285.3 million compared to USD 2,235.7 million a year ago. Operating income was USD 161.3 million compared to USD 141.4 million a year ago. Net income was USD 93.7 million compared to USD 111.6 million a year ago. Basic earnings per share was USD 0.8 compared to USD 0.96 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.