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Egypt Gas turns to profitability in H1-21 on higher revenue

Egypt Gas turns to profitability in H1-21 on higher revenue
The revenues levelled up to EGP 2.25 billion in the January-June period
Egypt Gas
EGAS
0.13% 45.33 0.06

Cairo – Mubasher: Egypt Gas turned to net profits of EGP 23.89 million in the first half (H1) of 2021, versus net losses of EGP 43.4 million in H1-20. 

The company's revenues levelled up to EGP 2.25 billion in the January-June period, compared to EGP 1.42 billion in the corresponding period a year earlier, according to a bourse disclosure on Wednesday. 

In the first quarter (Q1) of 2021, Egypt Gas achieved net profits of EGP 5.83 million, against net losses of EGP 37.76 million in Q1-20.