Orascom Construction (OC) has reported a 21.7% increase year-on-year (y-o-y) in its net income during the first quarter (Q1) of 2017, reaching $28m. BESIX Group, a company of OC, continues to build on last year’s results and reported consistent performance in the first quarter (Q1) of the year, the report said. It also showed that consolidated revenues have increased by 9.5% y-o-y, to reach an amount of $1,0657bn in Q1 2017. Orascom Construction is a global engineering and construction contractor primarily focused on infrastructure, industrial, and high-end commercial projects in the Middle East, North Africa, the United States, and the Pacific Rim. The group develops and invests in infrastructure opportunities, owns 50% of BESIX Group, and holds a construction materials and property management portfolio.

Source: Daily News Egypt May 23, 2017 16:07 UTC