Cairo – Mubasher: The board of directors of Egypt Gas approved the estimated budget for the year 2024, aiming to achieve EGP 245 million in profit after tax, compared to EGP 309 million by the end of 2023.
The EGX-listed firm targets to generate revenues amounting to EGP 6.69 billion in 2024, down year-on-year (YoY) from EGP 8.62 billion.
The board members greenlighted the estimated budget during their meeting on 19 December 2023, according to a bourse filing.
In the first nine months (9M) of 2023, Egypt Gas logged net profits after tax valued at EGP 138.62 million, an annual plunge from EGP 152.49 million.
Revenues dropped to EGP 3.61 billion in 9M-23 from EGP 5.09 billion in 9M-22, while the earnings per share (EPS) declined to EGP 1.44 from EGP 1.59.
