Cairo – Mubasher: Orascom Construction Plc on Sunday posted it targets revenues averaging between $3 billion and $3.5 billion at the end of 2018.
The cost of under-construction projects reached between $4 billion and $4.5 billion, Orascom said in a filing to the Egyptian Exchange (EGX).
The Egypt-based firm stressed it will announce its financial results for the period ended December 2018 on 18 March, 2019.
On Wednesday, Bishai stressed that his company would focus on the water purification projects in Egypt.
The company’s unit in the US may see a profitable year following tax cuts announced by the federal government, he said.
In November, Orascom Construction, listed on the EGX and Nasdaq Dubai, reported a 37% year-on-year increase in consolidated profit for the third quarter of 2018, recording $32.3 million, versus $23.5 million.
Revenue shrank to $728.8 million in Q3-18 from $805.4 million in the same period a year earlier.
In the first nine months of the year, the company logged $119.3 million in profits, versus $82.3 million for the corresponding period of 2017.
