Tawasul
Mubasher TV
Contact Us Advertising   العربية

Canal Shipping Agencies sees 68% lower profit in Q1-20/21

Canal Shipping Agencies sees 68% lower profit in Q1-20/21
The company’s revenues retreated to EGP 10.6 million

Cairo – Mubasher: Canal Shipping Agencies logged net profits of EGP 41.05 million in the first quarter (Q1) of fiscal year 2020/2021, down by 68% year-on-year (YoY) from EGP 128.3 million.

The company’s revenues retreated to EGP 10.6 million in the July-September period from EGP 16.21 million in the prior-year period, according to a bourse disclosure on Monday.

During FY19/20, Canal Shipping Agencies achieved net profits of EGP 328.4 million, up from EGP 225.5 million a year earlier.