Egypt Gas reports 6% surge in 2017 profits

State-run Egypt Gas Company’s profits rose by 6 percent, registering around 25.6 million Egyptian pounds ($1.4 million) during 2017, announced financial statements on Thursday.

Earlier, profits stood at 24.14 million pounds during 2016.

Revenues increased to 1.76 billion pounds during last year, compared with 1.52 billion pounds a year earlier.

During the nine months ended in September 2017, the company incurred losses by 17.05 percent to reach 58.98 million pounds from 50.39 million pounds during the same period in 2016.