Cairo – Mubasher: Egypt Gas announced the sale of a land plot located in Smouha, Alexandria in a public auction held on 19 June.
The land plot was sold at a value of EGP 52 million, according to a statement to the Egyptian Exchange (EGX) on Thursday.
In December 2018, the state-run gas firm decided not to sell the land plot due to the underpriced offers presented by the bidders.
During the first quarter of 2019, Egypt Gas reported a net profit of EGP 8.92 million, against net losses of EGP 13.54 million in the year-ago period.
Year-on-year, the company’s revenues rose to EGP 606.94 million in Q1-19, compared to EGP 397.33 million.
