Cairo – Mubasher: Egypt Gas on Wednesday posted an 85.9% year-on-year drop in losses for the first half of 2018.
The company incurred EGP 7.55 million in net loss for the six-month period ended June, versus EGP 53.59 million in the prior-year period, according to a filing to the Egyptian Exchange (EGX).
Revenues surged to EGP 998.8 billion at the end of June, compared to EGP 675.89 billion in H1-17.
Moreover, operating cost amounted to EGO 1.05 billion in H1-18, up from EGP 690.8 million in the same period a year earlier.
Egypt Gas previously reported a net loss of EGP 13.5 million in Q1-18, versus EGP 12.26 million in profits for Q1-17.
