ICEC

State-owned Egypt Gas’s pre-tax profits surge 9.66% in 2017

State-run Egypt Gas Company’s profits before taxes rose by 9.66 percent, registering 28.73 million Egyptian pounds ($1.6 million) during 2017, announced financial statements on Wednesday.

Earlier, profits stood at 26.2 million pounds during 2016.

Revenues increased to 1.76 billion pounds from more than 1.5 billion pounds.

The company incurred losses by 17.05 percent to 58.98 million pounds during the first nine months ended in September 2017, compared with 50.39 million pounds during the same period a year earlier.

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