Canal Shipping Agencies Co. posted a decline by 16.7% in FY13/14 net profit to EGP 27.641 million, compared with EGP 33.183 million a year earlier.
The company’s financial statements for the nine-month period from July 2013 to March 31, 2014 had shown that net profit fell 45% to EGP 19.2 million from EGP 35 million in the same period of fiscal year 2012/2013.
The company operates with issued and paid-in capital of EGP 200 million, divided into 200 million shares at EGP 1 par value each.