EGas turns into profitability in Q1 2019


Thu, 16 May 2019 - 10:15 GMT

Egypt's natural gas pipelines - File photo/Reuters

Egypt's natural gas pipelines - File photo/Reuters

CAIRO – 15 May 2019: Egypt Gas (EGAS) turned into profitability during the first quarter of 2019, recording LE 8.92 million, compared to losses of LE 13.54 million during the same quarter of 2018.

EGas' financial indicators revealed that the company reached revenues of LE 606.94 million by the end of March, compared to LE 397.33 million during the compared period of the previous year.

In 2018, the company recorded profits of LE 35.16 million, compared to LE 25.6 million in 2017.

Egypt Gas was established in September 1983 and listed on the Egyptian Exchange in April 1992. It operates within the gas utilities sector focusing on utilities.
It has subsidiaries operating across Egypt, Saudi Arabia, Germany and Canada.



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