Egyptian Transport and Commercial Services’ (Egytrans) net profits declined by 54% in 2014, the company said in its consolidated financial statements for the fiscal year ended 31 December 2014.

The statements reflected EGP 10.4 million ($1.4 million) in net profits for 2014, compared with EGP 22.6 million for 2013.

Meanwhile, the company posted unconsolidated net profits of EGP 10.9 million for 2014 against EGP 12.2 million for the previous year.

Egytrans reported net profits of EGP 9.9 million in the first nine months of 2014.