Egypt’s Orascom Construction logged a 113.5% year-on-year (y-o-y) increase of USD 50.6 mn in its net income attributable to shareholders during Q2 2018, Invest-Gate reports.

Orascom’s net income attributable to shareholders surged by 59.6% y-o-y to USD 82.5 mn in H1 2018, according to a released statement.

Additionally, the company signed around USD 680 mn of new awards in the Middle East region during H1 2018, of which USD 430 mn were added in Q2 2018 only.

“Our second quarter results demonstrate our steady progress throughout the year as we generated a healthy bottom line while achieving operational milestones and maintaining our backlog. We are also pleased to have paid out a dividend of USD 30 mn to shareholders in July,” Orascom Construction CEO Osama Bishai said in the statement.

Meanwhile, the company reported that its consolidated revenues stood at USD 1,506.9 mn in H1 2018, compared to USD 2,012.9 mn in the same period last year.