Canal Shipping Agencies posts 7.3% YoY drop in FY 2021/2022 profits

Revenues rose by 38% in the 12-month period ended June 30th

Staff Writer, Arab Finance

August 29, 2022

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Canal Shipping Agencies (CSAG) posted a 7.3% year-on-year (YoY) drop in net profit after tax for fiscal year (FY) 2021/2022, according to the unaudited financial income statement filed to the Egyptian Exchange (EGX) on August 28th.

Net profit after tax reached EGP 185.54 million in FY 2021/2022, compared to EGP 200.192 million in FY 2020/2021.

Revenues rose by 38% to EGP 74.405 million in the 12-month period ended June 30th from EGP 53.95 million in FY 2020/2021.

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.

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