Egypt Gas to pay $0.0099/share dividends for 2024
Arab Finance: Egypt Gas' Ordinary General Assembly Approved Distributing A Cash Dividend Of Egp 0.50 Per Share To Shareholders For 2024, According To A Bourse Disclosure Issued On April 6th.
The Dividends Will Be Disbursed In One Or More Installments, Depending On The Company's Liquidity Position.
In 2024, Egypt Gas Logged Net Profits After Tax Valued At Egp 290.960 Million, Lower By 70.55% Year-on-year (yoy) Than Egp 170.597 Million.
The Egx-listed Company Is Engaged In Natural Gas Engineering, Procurement, And Construction Projects.
Its Activities Include Land Surveying, Preparing Designs, Construction Of Transmission Pipelines, Construction Of Distribution Networks And Regulators, And More.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided By Syndigate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tourism Breaking News
3 hours ago
- Tourism Breaking News
Egypt's Travel & Tourism Sector contributes EGP 1.4 Trillion to GDP in 2024 : WTTC
Post Views: 52 According to WTTC's latest Economic Impact Research (EIR), developed in collaboration with Oxford Economics, the sector contributed EGP 1.4TN to Egypt's GDP in 2024, accounting for 8.5% of the national economy. Looking ahead, 2025 is projected to set a new all-time high with a forecast annual growth of 4.9% and increase in the sector's share to 8.6% of national GDP. This underlines the central role of Travel & Tourism in Egypt's continued economic development. 2024 also marked the strongest year on record for visitor spending. International visitor expenditure reached EGP 726.9BN, up 36.1% compared to 2019, while domestic visitor spending rose to EGP 449.9BN, 31.8% above pre-pandemic levels. This upward trend is set to continue. In 2025, international visitor spending is projected to increase to EGP 768.2BN, and domestic spending is expected to reach EGP 460.6BN, maintaining the country's strong recovery and sustained demand across both international and local travel. In addition to record-breaking economic contribution and visitor spending, in 2024, the sector supported 2.7 million jobs, exceeding the 2019 peak. This growth is set to continue, with 2025 employment forecast to rise to 2.9 million, marking a 22.3% increase compared to 2019. Julia Simpson, WTTC President & CEO, said: 'Egypt's Travel & Tourism sector is experiencing a powerful resurgence, with record-breaking economic contribution and a sustained surge in visitor spending. These numbers reflect a sector on the rise: dynamic, resilient, and vital to the country's growth. 'With its rich cultural heritage, world-class attractions, and growing connectivity, Egypt continues to captivate travellers from around the globe. The government's focus on investment, infrastructure, and sustainable tourism is clearly paying off.' WTTC forecasts a decade of sustained expansion for Egypt's Travel & Tourism sector. By 2035, the sector is expected to contribute EGP 2.1TN to the national economy, accounting for 8.4% of GDP. Employment is projected to reach 3.8 million jobs, representing 10.5% of total employment, and highlighting the sector's critical role in job creation. Over the same period, international visitor spending is expected to rise to EGP 1.1TN, while domestic spending is forecast to reach EGP 627BN, reflecting Egypt's potential to become one of the region's most vibrant and sustainable tourism economies.
Zawya
19 hours ago
- Zawya
Egypt: Electro Cable registered 15.6% YoY fall in Q1 2025 consolidated profits
Electro Cable Egypt recorded 15.61% year-on-year (YoY) lower consolidated net profits attributable to the owners of the parent company at EGP 451.712 million in the first quarter (Q1) of 2025, the financial results showed. The generated net profits were compared with EGP 535.328 million in Q1 2024. Earnings per share (EPS) fell to EGP 0.14 in Q1 2025 from EGP 0.16 in Q1 2024. Consolidated net sales hiked to EGP 3.723 billion from EGP 3.072 billion. As for the standalone financials, the EGX-listed firm registered an annual decline in net profit to EGP 80.424 million during the January-March 2025 period, compared to EGP 167.531 million. Non-consolidated sales jumped to EGP 1.700 billion in Q1 2025 from EGP 1.552 billion a year earlier, while the EPS went down to EGP 0.021 from EGP 0.042. In 2024, the consolidated net profits attributable to equityholders of Electro Cable Egypt increased by 6.39% YoY to EGP 1.327 billion from EGP 1.248 billion. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
20 hours ago
- Zawya
Egypt to import LNG to cover demand from July 2025 to June 2026, cabinet says
Egypt plans to import liquefied natural gas to cover demand from July 2025 to June 2026, the Egyptian cabinet said in a statement on Wednesday, as it ramps up purchases to meet power demand despite strained government finances. Reuters reported on June 12 that Egypt has reached agreements with several energy firms and trading houses to buy 150 to 160 cargoes of liquefied natural gas to complement its domestic production and pipeline imports from Israel, according to industry sources. Egypt's gas production has been on a downward trend in the past few years, reaching as low as 3,485 million standard cubic metres in April 2025, compared to a peak of 6,133 million standard cubic meters in March 2021, according to data from the Joint Organisations Data Initiative (JODI). The North African nation has had to resort to load shedding, raising imports from Israel, and seeking foreign funding for LNG shipments. Israeli gas currently accounts for about 15-20% of Egypt's consumption, JODI data shows. When two of Israel's three gas fields, Leviathan and Karish, were shut down nearly two weeks ago due to the Iran-Israel conflict, Egypt was forced to stop supplying gas to petrochemical and fertilizer factories. More imports come in the form of liquefied natural gas for regasification in Egypt. But while Egypt currently has three floating storage and regasification units (FSRUs) to carry out that process, only one is operational. (Reporting by Momen Saeed Atallah, Writing by Nayera Abdallah. Editing by Jane Merriman, Alexandra Hudson)
