Cairo – Mubasher: The preliminary financial statements of Alexandria Container and Cargo Handling Co showed a 21% year-on-year drop in its profits during the first 10 months of fiscal year 2018/2019.

Net profits amounted to EGP 1.5 billion from July 2018 to last April, compared to EGP 1.9 billion in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Year-on-year, revenues fell to EGP 2.33 billion during the ten-month period ended 30 April from EGP 2.44 billion.

During the first nine months of FY18/19, profits shrank to EGP 1.34 billion from EGP 1.71 billion in the corresponding period of FY17/18.

Revenues declined to EGP 2.07 billion in the nine-month period ended 31 March, compared to EGP 2.18 billion in the year-ago period.