Cairo – Mubasher: Egypt Gas' net profits after tax surged by around 96% year-on-year (YoY) to EGP 165.82 million in 2021, compared to EGP 84.66 million.

The company generated revenues of EGP 5.40 billion last year, versus EGP 4 billion in 2020, according to a bourse disclosure on Sunday.

The earnings per share (EPS) stood at EGP 3.30 in 2021, against EGP 1.64 in the prior year.

In a separate disclosure, Egypt Gas said its board gave the green light for raising the paid-up and issued capital to EGP 1 billion from EGP 480 million through a subscription right.

It is worth noting that in the first nine months (9M) of 2021, Egypt Gas posted net profits of EGP 42.13 million, a leap of 365% from EGP 9.06 million in the year-ago period.