Cairo – Mubasher: Egypt Gas on Wednesday posted a 70% year-on-year drop in losses for the first nine months of 2018.

The company incurred EGP 17.6 million in net loss for the nine-month period ended September, versus EGP 58.9 million in the prior-year period, according to a filing to the Egyptian Exchange (EGX).

Revenues increased to EGP 1.6 billion at the end of September, compared to EGP 1.1 billion in the corresponding period of 2017.

It is worth noting that Egypt Gas suffered a net loss of EGP 7.55 million during the six-month period ended June, versus EGP 53.59 million in the prior-year period.