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Canal Shipping’s profit grows 72% YoY in 9 months

Canal Shipping Agencies (CSAG) posted a 72% year-on-year (YoY) increase in net profit after tax during the first nine months of 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on November 10th.

The company’s net profit after tax rose to EGP 66.39 million in January-September from EGP 38.531 million in the same period a year earlier.

On the other hand, revenue declined to EGP 15.919 million in the nine months ended September 30th from EGP 19.961 million in the year-ago 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.
Source: Arab Finance

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