Canal Shipping Agencies (CSAG) reported a 79% year-on-year (YoY) drop in net profit after tax for the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the company’s unaudited financial indicators filed to the Egyptian Exchange (EGX) on November 13th.

Net profit after tax reached EGP 14.071 million in the nine-month period ended September 30th, compared to a profit of EGP 66.390 million in the same period of FY 2022/2023.

The company’s revenue grew by 74% YoY to EGP 27.769 million in Q1 FY 2023/2024 from EGP 15.919 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.


Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (