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Egytrans profit falls 49% in 9M

Egytrans profit falls 49% in 9M
Net profit fell to EGP 35.92 million in the nine-month period ended September
Egytrans
ETRS
-1.61% 3.66 -0.06

Cairo – Mubasher: Egyptian Transport and Commercial Services Co (Egytrans) on Sunday reported a 49.2% year-on-year decline in profits for the first nine months of 2018.

Net profit fell to EGP 35.92 million in the nine-month period ended September, from EGP 70.76 million in the year-ago period, the company said in a filing to the Egyptian Exchange (EGX).

Sales shrank to EGP 161.70 million at the end of September, versus EGP 240.33 million in the same period last year.

Egytrans previously posted a 60% year-on-year drop in consolidated profits for the first half of 2018.

Net profit narrowed to EGP 24.9 million in the six-month period ended June, from EGP 61.5 million in the prior-year period.