Egypt Gas Seeks 8% Profit Growth in 2019

Egypt Gas Seeks 8% Profit Growth in 2019

Egypt Gas Company is seeking an 8% profit increase to EGP 26.57 million by the end of 2019, up from EGP 24.57 million currently, Amwal Al Ghad reported.

The company hopes to boost its annual revenues to EGP 3.1 billion, up from EGP 2.6 billion.

Egypt Gas has improved its financial position in 2018, despite making a pre-tax loss of EGP 12 million in Q1. The company made a loss of EGP 17.6 million in the first nine months of 2018, compared to EGP 58.9 million losses during the same period of 2017.

Egypt Gas’s revenue recorded EGP 397.3 million in Q1 2018, compared to EGP 318.6 million in the preceding year.

Sarah Samir 2747 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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