Orascom Development 2010 net profit drops 11 pct
Cairo - Arabstoday
Real estate and hotels firm Orascom Development said on Friday its 2010 net profit after non-controlling interests declined by 11 percent year-on-year to 94.9 million Swiss francs. The Swiss-listed company, known mostly for building luxury resorts, posted net profit of 106.5 million francs in 2009. Orascom, whose main presence is in Egypt, said its 2010 total consolidated revenues fell 12 percent to 516.1 million francs from 586.1 million francs a year earlier.
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