Egypt Gas records 46% profit decrease in 2023

Egypt Gas (EGAS) reported a 46% year-on-year (YoY) decrease in net profits after tax in 2023 to EGP 162.119 million from EGP 301.967 million, the firm disclosed on January 28th.

Meanwhile, revenues slipped 2% to EGP 6.871 billion from EGP 7.025 billion.

Established in 1983, Egypt Gas provides a wide range of services in the oil and gas field and other related fields, including natural gas distribution Engineering, procurement, and construction (EPC)-based projects.