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Egytrans reports 60% profit decline in H1-20 initial results

Egytrans reports 60% profit decline in H1-20 initial results
Egytrans generated sales of EGP 101.42 million
Egytrans
ETRS
-1.94% 9.12 -0.18

Cairo – Mubasher: The financial indicators of the Egyptian Transport and Commercial Services Co (Egytrans) showed a 59.6% year-on-year (YoY) drop in its net profits to EGP 9.57 million in the first half (H1) of 2020 from EGP 23.73 million.

Egytrans generated sales of EGP 101.42 million in the six-month period ended on 30 June, down from EGP 156.05 million in the same period in 2019, according to a bourse disclosure on Sunday.

As for standalone business, the company achieved net profits of EGP 14.43 million in H1-20, down from EGP 25.54 million in H1-19, while its sales fell to EGP 89.8 million from EGP 137.35 million.

It is worth mentioning that during the first quarter (Q1) of 2020, Egytrans posted net profits of EGP 3.68 million, down from EGP 17.55 million in the corresponding period a year earlier.