Canal Shipping Agencies’ profit falls 27% in H1 FY 2021/2022
Updated 2/8/2022 10:33:08 AM
ArabFinance: Canal Shipping Agencies (CSAG) reported a 27% year-on-year (YoY) drop in net profit after tax for the first half (H1) of fiscal year (FY) 2021/2022, according to the company’s unaudited financial indicators filed to the Egyptian Exchange (EGX).
Net profit after tax reached EGP 70.50 million in the six-month period ended December 31st 2021, compared to a profit of EGP 97.08 million in the same period of FY 2020/2021.
The company’s revenue grew by 53% YoY to EGP 34.91 million in H1 FY 2021/2022 from EGP 22.88 million.
Canal Shipping is a subsidiary of the Holding Company for Maritime and Land Transport that provides marine port services and shipping services to international commercial fleets.
The company operates four agencies, namely Asswan Shipping Agency, Assuit Shipping Agency, El Menia Shipping Agency, and Damanhour Shipping Agency.
