Cairo – Mubasher: Egypt Gas’ board of directors approved the estimated budget for the year 2023. The company plans to achieve EGP 309 million in net profits next year, compared to expected profits of EGP 165 million by the end of 2022.

In the meantime, it aims to register revenues of EGP 8.62 billion next year, up from an expected revenue of EGP 6.81 billion by 2022 year-end, according to a bourse statement on Thursday.

During the first nine months (9M) of the year, the net profits of Egypt Gas registered EGP 152.49 million, a yearly surge of 261.95% when compared to EGP 42.13 million.

The revenues reached EGP 5.09 billion in 9M-22, compared to EGP 3.62 billion in 9M-21.