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Egypt Gas profits rise 96%

Egypt Gas (EGAS) reported a net profit of EGP 165.83 million in 2021, up 96% YoY.

Last year, the company’s revenues increased to EGP 5.4 billion, compared to EGP 4 billion in 2020.

The company’s BoD also accepted a proposal to raise the company’s issued and paid-up capital from EGP 480 million to EGP 1 billion, with the raise coming through a cash subscription to existing shareholders.