Orascom Construction Q1 net income $23 mln vs $5.8 mln year earlier

CAIRO, May 26 (Reuters) - Orascom Construction posted a net profit of $23 million in the first quarter of 2016, up significantly from $5.8 million a year ago.

The group said it signed new contracts amounting to $510 million in Egypt, Algeria and the United States in the first quarter. It reported EBITDA of $48.8 million in the first quarter

(Reporting by Lin Noueihed and Ehab Farouk) ((lin.noueihed@thomsonreuters.com; +202 2 394 8039; Reuters Messaging: lin.noueihed.thomsonreuters.com@reuters.net))

Keywords: ORASCOM RESULTS/