ArabFinance: Egypt Gas (EGAS) posted a 73% year-on-year (YoY) surge in net profits after taxes during the year ended December 31st 2021, according to the unaudited financial indicators filed to the Egyptian Exchange (EGX).

The company’s net profits after taxes soared to EGP 146.773 million in the full year 2021, compared to EGP 84.666 million a year earlier.

Revenue grew by 35% EGP 5.405 billion during the year ended December 31st 2021, as compared to EGP 4.002 billion in 2020.

Moreover, the board of directors approved the cash dividend distribution proposal of EGP 1.25 per share for 2021, which is pending the approval of the ordinary general meeting (OGM).

It is worth noting that Egypt Gas is an Egypt-based shareholding company engaged in the design, installation, operation, and maintenance of natural gas distribution networks and pressure reduction stations for domestics, commercial, and industrial applications.

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