Egypt Gas Company Marks Loses

Egypt Gas Company Marks Loses

Egypt Gas Company’s losses in the second quarter of 2016 reached EGP 61.9m ($6.96m), in comparison to EGP 31.3m ($3.5m) during the same period from 2015, Al Borsa reported.

This represents a 97.8% increase in losses during Q2 of 2016, which brings the company’s 2016 year-to-date loss to EGP 47.9m in total, after incurring a net profit of EGP 14m during the first quarter of the year. This represents a 1% drop in losses during the first six-months of 2016, when compared to a loss of EGP 48.9m for the same period during 2015, informed Misr Journal.

Egypt Gas previously adopted the latest technology in the form of a Geographical Information System to optimize one of its most critical activities; site mapping and network designing.


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