NileSat’s profits grow 26.7% YoY in 2022

Updated 2/19/2023 2:03:00 PM
NileSat’s profits grow 26.7% YoY in 2022

Arab Finance: The Egyptian Satellites Co (NileSat) achieved net profits of $38.96 million in 2022, up by 26.7% year-on-year (YoY) from $30.75 million, according to the company’s financial income statement filed to the Egyptian bourse on February 19th.

NileSat's operating revenues declined to $99.85 million last year, compared to $111.76 million a year earlier.

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

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