OCI: Net Loss Hits EGP628.5 Million in 9 Months

The board of Orascom Construction Industries (OCI) ratified Monday the financial results for the first nine months of FY13.

These results showed losses of EGP 628.5 million, with a slump of 169.6% from EGP 9.35 million net profit in the same period a year earlier.

OCI’s revenues fell 39.8% to EGP 4.9 billion, from EGP 8.3 billion generated in the first nine months of FY12.

The company’s H1-12 consolidated financial results had reflected EGP 1.47 billion net profit, compared with EGP 2.4 billion in H1-11.