Cairo – Mubasher: Egypt Gas (EGAS) on Wednesday said it incurred losses in the third quarter of 2016.
Net losses amounted to EGP 2.44 million ($160,000) in Q3-16 against a profit of EGP 4.64 million ($300,000) in the same period of 2015, according to a statement to the Egyptian Exchange (EGX).
As for the nine months ended 30 September 2016, the gas company reported widening its losses during the period by 14.6% to EGP 50.39 million compared to EGP 43.9 million between January and September 2015.
EGAS' revenues stood at EGP 989.15 million in the first nine months this year, up 17.3% from EGP 843.4 million last year.
