Cairo – Mubasher: Egypt Gas said that its 2018 budget targets to increase profit by 260% year-on-year.
The company aims at increasing profit to EGP24.5 million in 2018 from EGP6.8 million in 2017, according to a filing to the Egyptian Exchange (EGX) on Thursday.
Moreover, Egypt Gas eyes revenues worth EGP2.5 billion next year compared to EGP 1.8 billion in the current year.
In December, the company said the 2017 budget targeted net profit of EGP 6.8 million from EGP 10.5 million a year earlier.
During the first nine months of 2017, Egypt Gas posted a post-tax loss of EGP 58.98 million versus EGP 50.39 million in the previous corresponding period.
