Orascom Construction sees 15.2% lower consolidated profits; dividends proposed

Mubasher: The consolidated financial results for 2019 of Orascom Construction PLC, listed on Nasdaq Dubai and the Egyptian Exchange (EGX), reported a 15.2% year-on-year (YoY) drop in net profits.

The company's net profits reached $131.1 million in 2019, compared to $154.7 million during in 2018, according to the company's disclosure to the Egyptian Exchange (EGX) on Thursday.

Meanwhile, the revenues rose to $3.18 billion last year from $3.01 billion in the earlier year.

Earnings per share (EPS) stood at $1.04 in 2019, down from $1.24 in the previous year.

As for the standalone financial results, the company saw $12.17 million in profits in 2019, against losses of $36.3 million in 2018.

The company's revenues recorded $2.28 billion, up from $2.23 billion in 2018.

At the same time, the board proposes a dividend distribution of $0.21 per share.

Noteworthy to mention, during the first nine months of 2019, the company reported a 16% annual drop in consolidated profits to $100.3 million from $119.3 million during the same period of 2018.

 

Mubasher Contribution Time: 26-Mar-2020 10:37 (GMT)
Mubasher Last Update Time: 26-Mar-2020 14:30 (GMT)