Egypt Gas swings to loss in Q1 2020

The company’s revenues retreated to $42.73mln

  

Cairo – Mubasher: Egypt Gas announced turning to net losses of EGP 37.76 million in the first quarter of 2020, against net profits of EGP 8.92 million in the year-ago period.

The company’s revenues retreated to EGP 691.32 million in the January-March period from EGP 718 million in the corresponding period a year earlier, according to a bourse disclosure on Monday.

It is worth mentioning that in 2019, the Egyptian firm reported net profits of EGP 164.95 million, compared to EGP 35.16 million in 2018.

Source: Mubasher

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