Mubasher: Orascom Construction PLC reported $34.8 million net profits attributed to the owners in the first half (H1) of 2020, down from $61.5 million in the same half of 2019.
The company generated revenues of $1.6 billion in H1-20, up 8.2% from $1.5 billion in the year-ago period, according to the company's interim consolidated financial results for the period ended on 30 June.
The company's consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) declined by 30.3% to $99.3 million in the January-June period in 2020, when compared to the same period of 2019.
The basic earnings per share (EPS) stood at $0.30 in the first six months of 2020, versus $0.53 in the corresponding period of 2019.
As for standalone business, Orascom Construction logged net losses of $6.69 million in H1-20, against net profits of $3.16 million in H1-19.
Meanwhile, the company announced that $5.4 billion projects are under construction.
The company has distributed cash dividends of $0.21 per share in August 2020.
It is noteworthy to mention that in the first quarter (Q1) of 2020, the company, listed on Nasdaq Dubai and the Egyptian Exchange (EGX), showed a 26% year-on-year profit decline to $24.9 million in the January-March period, compared to $33.7 million in the same period of 2019.
