ODE Net Sales increase by 100.1 % in H1 of 2017

ODE Net Sales increase by 100.1 % in H1 of 2017

Orascom Development Egypt (ODE) announces that its net sales increase by 100.1% to EGP 718.7 mn in the first half of 2017 versus EGP 359.1 mn in the same period a year earlier, Invest-Gate reports.

According to its recent financial report, ODE says that it continues its positive operational performance across all its business segments, recording an increase of 76.9% in total revenues to reach EGP 1,093.7 mn versus EGP 618.1 mn in the first half of 2016.

The net profit attributable for ODE shareholders during H1 of 2017 reached EGP 117.4 mn versus a net loss of EGP 106.0 mn in the same period of 2016. Adjusted EBITDA increased by 142.4% to reach EGP 439.8 mn in H1 of 2017, compared with EGP 181.4 mn in the prior-year period, according to the report.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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