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Orascom Construction Industries’ net profit rose by 22 per cent

With net profits of $147.6m, OCI announced a 22 per cent increase compared to last year's third quarter.

Hilla Shimshoni , Wednesday 24 Nov 2010
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Orascom Construction Industries , Egypt's largest company by market capitalisation, announced on Tuesday that its third quarter net profit rose by 22 per cent compared to last year, reaching a total of $147.6 million. In the same period a year ago, the country’s biggest builder and fertilizer maker announced a net profit of $120.7 million. This announcement surpassed the expectations of five analysts polled by Reuters, who, on average, predicted a net profit of $136.5 million. Their estimates ranged from $123 million to $148.5 million.

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