Egypt: NileSat’s profits grow 55.79% YoY in 2023

Reuters

NileSat's operating revenues declined to $101.824 million last year, compared to $99.858 million a year earlier

Staff Writer, Arab Finance

February 26, 2024

PHOTO

The Egyptian Satellites Co (NileSat) achieved net profits of $43.754 million in 2023, up by 55.79% year-on-year (YoY) from $98.966 million, according to the company’s financial income statement filed to the Egyptian bourse on February 25th.

NileSat's operating revenues declined to $101.824 million last year, compared to $99.858 million a year earlier.

The company attributed the increase in profits to the decrease in the company's total expenses.

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