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

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.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.