ODH increases sales and profit
Orascom Development Holding (ODH) increased its revenue by 35 to 40 percent in the first half of 2015 compared to the same period last year. Adjusted EBITDA is expected to be in the range of CHF 46.5 to 47.5 million, the company says. The final financial figures and reports will be published on August 20, 2015.
Egyptian subsidiary Orascom Hotels and Development (OHD) increased its revenue by 25 percent to EGP 937.2 million in the first half of 2015 (H1 2014: EGP 750.2 million). EBITA amounted to EGP 383.4 million in the period, up from EGP 198.5 million in the same period last year.
Real estate sales record an increase of 228 percent compared to the same period last year, reaching EGP 503.7 million, an increase of 26 % compared to full-year sales in 2014. (ah)
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