Cairo – Mubasher: Canal Shipping Agencies aims to generate net profits after tax of EGP 154.5 million in fiscal year 2021/2022, compared to a targeted net profit of EGP 235 million in FY20/21.

The planned budget for the coming fiscal year includes total investments of EGP 14 million, the company said in a bourse disclosure on Wednesday.

The investments include EGP 8 million worth of means of transport and EGP 2 million worth of furniture and equipment, in addition to the resumption of computer system upgrades at a value of EGP 4 million.

During the first half (H1) of FY20/21, Canal Shipping Agencies reported net profits of EGP 97.08 million, down from EGP 161.99 million in the year-ago period.