Arab Finance: Canal Shipping Agencies (CSAG) posted a 311% year-on-year (YoY) increase in net profit after tax during the first half (H1) of fiscal year (FY) 2022/2023, according to the unaudited financial statement filed to the Egyptian Exchange (EGX) on February 7th.
The company’s net profit after tax rose to EGP 289.445 million in the July-December period of 2022 from EGP 70.505 million in the year-ago period.
Revenues increased 2%, hitting EGP 35.704 million in the six-month period ended December 31st from EGP 34.915 million in the prior-year period.
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.