State Construction Firms Bag 770m Br in Revenues

Dec 5 , 2020


Two state-owned construction companies under the auspices of the Public Enterprises Holding & Administration Agency generated 770.5 million Br in revenues during the first quarter of this fiscal year. Ethiopian Construction Design & Supervision Works Corporation has bagged 178.2 million Br in revenues, achieving 70 pc of its target. Out of its total income, 41,000 dollars was generated in foreign currency. and 49.6 million Br was gross profit. The Ethiopian Construction Works Corporation has also generated 601.3 million Br in revenue, surpassing its target by 5pc. During the same period, the Corporation had planned to incur 32.1 million Br in losses; however, it made a profit of 96.5 million Br. During the past fiscal year, the 22 public enterprises under the Agency grossed 300.5 billion Br and 55.6 billion Br in revenues and profit, respectively.


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