Cairo – Mubasher: The standalone financial indicators of Egyptian Transport and Commercial Services Co (Egytrans) have shown a 21.5% year-on-year decline in profits for the first quarter of 2018.

Net profit narrowed to EGP 18.9 million in the three-month period ended last March, from EGP 24.1 million in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX) on Thursday.

Sales retreated to EGP 50.22 million in Q1-18, versus sales of EGP 90.2 million in Q1-17.

The company had previously posted a 69% year-on-year hike in standalone profits for the full-year 2017, recording EGP 72.6 million from EGP 42.9 million in 2016.  

Egytrans’ capital amounts to EGP 156.06 million distributed over 31.2 million shares at a par value pf EGP 5 per share.