Mubasher TV
Contact Us Advertising   العربية

Canal Shipping achieves 38% higher profits in 9M

Canal Shipping achieves 38% higher profits in 9M
The company's revenues amounted to EGP 49.33 million
Canal Shipping Agencies
CSAG
-2.04% 18.74 -0.39

Cairo – Mubasher: The net profits of Canal Shipping Agencies hiked by 38% year-on-year (YoY) to reach EGP 245.39 million in the period from July 2019 to March 2020, compared to EGP 177.37 million in the year-ago period.

The increase in profits is attributed to higher returns on investments of Port Said and Damietta Containers, according to the company's unaudited financial results.

The company's revenues amounted to EGP 49.33 million during the first nine months of fiscal year (FY) 2019/2020, down by 23% from EGP 63.9 million in the same period of the previous year.

It is noteworthy to mention that the first six months of FY 19/20, the company's net profits rose by 31% to EGP 161.99 million, compared to EGP 123.43 million in the corresponding period a year ago.