Cairo – Mubasher: Net profits of Egypt Gas expanded by 369% year-on-year (YoY) in 2019, amounting to EGP 164.95 million, compared to EGP 35.16 million in 2018, as shown by the company’s audited financial statements.  

Revenues surged to EGP 3.75 billion by 2019 year-end from EGP 2.859 billion a year earlier, according to a statement to the Egyptian Exchange (EGX) on Thursday.  

Last month, the firm’s unaudited financials showed a similar increase in annual profit. 

It is noteworthy that during the January-September period of 2019, Egypt Gas achieved net profits of EGP 27.81 million, against net losses of EGP 17.60 million in the prior-year period.