(Refiles with correct RIC)
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)