Egypt Gas’ profits exceed $9.93mln in 2022; dividends proposed

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Cairo – Egypt Gas achieved net profits after tax worth EGP 301.18 million in 2022, higher by 82% year-on-year (YoY) than EGP 165.82 million.

The company generated revenues worth EGP 7.02 billion in 2022, an annual surge of 30% from EGP 5.40 billion, according to the income statements.

Earnings per share (EPS) stood at EGP 1 (96.14 million shares) during the January-December 2022 period, versus EGP 1.50 (48 million shares) in 2021.

Dividends

Meanwhile, the board of Egypt Gas recommended a dividend distribution of EGP 1 per share for 2022. The proposal is still subject to the approval of the ordinary general meeting (OGM).

In the first nine months (9M) of 2022, the EGX-listed firm logged net profits after tax worth EGP 152.49 million, a 261.95% YoY leap from EGP 42.13 million.

According to the company’s estimated budget for 2023 which was approved last December, Egypt Gas aims to register net profits of EGP 309 million this year.