Canal Shipping reports 163% YoY profit surge in 9 months

Reuters Images/Amr Abdallah Dalsh

Revenues rose to EGP 77.072 million from July through March this FY, compared to EGP 58.526 million in the same period a year earlier

Staff Writer, Arab Finance

May 28, 2024

PHOTO

Canal Shipping Agencies (CSAG) reported a 163.2% year-on-year (YoY) increase in net profits after tax during the first nine months of the fiscal year (FY) 2023/2024, recording EGP 570.868 million, compared to EGP 216.857 million, according to the audited financial statement.

Revenues rose to EGP 77.072 million from July through March this FY, compared to EGP 58.526 million in the same period a year earlier.

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 Aswan Shipping Agency, Assuit Shipping Agency, El Menia Shipping Agency, and Damanhour Shipping Agency.

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