January 17, 2018 / 7:20 AM / 3 months ago

BRIEF-Orascom Development Egypt FY Net Sales Up 87.5 Pct

Jan 17 (Reuters) - ORASCOM DEVELOPMENT EGYPT:

* FY NET SALES EGP 1.46 BILLION, UP 87.5 PERCENT YEAR-ON-YEAR

* SAYS WILL CONTINUE TO SEEK OPTIMAL BALANCE SHEET STRUCTURE AND WILL CONTINUE ITS PLANS TO REDUCE, RESTRUCTURE ITS DEBT

* TO REDUCE DEBT BALANCE IN 2018 BY FURTHER EGP 800 MILLION TO EGP 1 BILLION VIA SALE OF NON-CORE ASSETS AND EXCESS CASH FROM OPERATIONS‍​ Source:(bit.ly/2BaFVxK) Further company coverage:

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