Cairo – Mubasher: Egypt Gas aims to achieve an %8 year-on-year growth in profits for the next fiscal year 2019.
The company plans to generate a profit of around EGP 26.57 million by the end of 2019, versus an estimated profit of EGP 24.57 million by the end of this year, according to a filing to the Egyptian Exchange (EGX) on Thursday.
The gas firm also targets revenues of around EGP 3.1 billion by the end of next year, versus expected revenues of EGP 2.6 billion by the end of 2018.
Egypt Gas previously posted a 70% year-on-year drop in losses for the first nine months of 2018, incurring EGP 17.6 million in net loss, versus EGP 58.9 million in the prior-year period.
Revenues increased to EGP 1.6 billion at the end of September, compared to EGP 1.1 billion in the corresponding period of 2017.
