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| OCI reports first half results  Egyptian cement and construction company Orascom Construction Industries (OCI) reported its results for the first half ended 30 June 2007. Consolidated revenue grew 43% to US$ 1,731.3 million (LE 9.874.1 million) versus US$ 1,214.9 million (LE 6,989.5 million) in H1 2006. EBITDA rose 48% to US$ 515.0 million (LE 2,937.0 million) versus US$ 347.7 million (LE 2,000.7 million) in H1 2006. Net income increased 46% to US$ 307.1 million (LE 1,751.5 million) versus US$ 210.1 million (LE 1, 208.6 million) in H1 2006. Construction revenue grew 50% and EBITDA grew 64% during H1 2007.Backlog as at 30 June 2007 stood at US$ 3.5 billion (LE 19.7 billion), compared to US$ 2.2 billion as at 31 December 2006. Construction Group recorded US$ 1.8 billion in new contract awards during the second quarter of 2007, a 145% increase over the same period last year. write your comments about the article :: © 2007 Construction News :: home page |