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Orascom Development targets debt reduction by EGP 800 m during 2019, Khaled Bichara

Orascom Development targets debt reduction by EGP 800 m during 2019, Khaled Bichara

ArabFinance: Khaled Bichara, CEO of Orascom Development Egypt (ORHD) said in an exclusive interview with ArabFinance that ORHD achieved robust financial results for the fiscal year ending December 2018. The company posted consolidated net profits of EGP 500,199,468, versus net profits of EGP 391,961,555 in the same period a year ago, taking into account the minority rights. 

The new system adopted by the company has contributed significantly to better management and reduced debt volume which is targeted to be cut by 800-900 million in 2019, Bichara added. 

 Watch the interview with the Khaled Bichara, CEO of Orascom Development Egypt in full here: 

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