Egypt Gas’ H1 net profit soars 333.2% YoY - ZAWYA

August 17, 2022
Staff Writer, Arab Finance

• Net profit after tax reached over $5mln in H1 2022

Egypt Gas (EGAS) reported a 333.2% year-on-year (YoY) surge in net profit after tax for the first half (H1) of 2022, according to the financial income statement filed to the Egyptian Exchange (EGX) on August 16th.

Net profit after tax reached EGP 103.52 million in H1 2022, compared to a profit of EGP 23.89 million in H1 2021.

Moreover, the company generated operating revenues of EGP 3.06 billion in the first six months of 2022, up from EGP 2.25 billion in the year-ago period.

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 domestic, commercial, and industrial applications.