Cairo – Egypt Gas logged net profits after tax amounting to EGP 162.11 million in 2023, an annual drop of 46% from EGP 301.96 million.

Activity revenues hit EGP 6.87 billion in 2023, lower by 2% year-on-year (YoY) than EGP 7.02 billion, according to the income statements.

The board members greenlighted the financial results as of 31 December 2023 during their meeting that was held on 24 January 2024.

In the January-September 2023 period, Egypt Gas posted lower net profits at EGP 138.62 million, compared to EGP 152.49 million a year earlier.

The EGX-listed firm is targeting net profits valued at EGP 245 million in 2024, versus EGP 309 million by the end of 2023.

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