Cairo – Mubasher: Orascom Construction Plc posted a 25.2% year-on-year increase in consolidated backlog to $5.2 billion during the first nine months of 2019.
Pro forma backlog, including the group’s 50% share in BESIX, grew by 26.2% year-on-year to $7.7 billion during the nine-month period ended 30 September, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Consolidated new awards hiked by 81.6% to $2.8 billion, while pro forma new awards including 50% share in BESIX rose by 48.4% to $4 billion during the January-September period.
BESIX’s standalone backlog grew by 40.3% to EUR 4.5 billion, while new awards increased by 8.4% to EUR 2.1 billion during the nine-month period ended 30 September.
It is noteworthy that Orascom Construction Plc logged a net profit of $100.3 million in the first nine months of the year, compared to $119.3 million in the year-ago period, including minority shareholders’ rights.
