Alexandria Container's profit down 6% in FY20/21

The revenues slid

Traders work at the Egyptian stock exchange in Cairo, November 19, 2014.

Traders work at the Egyptian stock exchange in Cairo, November 19, 2014.

REUTERS/Mohamed Abd El Ghany
Cairo - Mubasher: Alexandria Container and Cargo Handling Co recorded a 6% year-on-year (YoY) decline in its net profits to EGP 1.40 billion in fiscal year (FY) 2020/2021, compared to EGP 1.49 billion, the unaudited financial results showed.

The revenues slid to EGP 2.37 billion in the 12-month period ended 30 June, compared to EGP 2.58 billion a year earlier, the company said in a bourse disclosure on Wednesday.

The number of containers handled during the year fell below the target by 9% and declined by 8% as compared to the corresponding period due to the drop in the volume of overall imports.

During the first 11 months of FY20/21, the company achieved net profits of EGP 1.27 billion, down from EGP 1.32 billion in the prior-year period.

The revenues retreated to EGP 2.15 billion in the 11-month period ended 31 May, compared to EGP 2.27 billion in the corresponding period a year earlier.

Source: Mubasher

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