ArabFinance: Canal Shipping Agencies (CSAG) has reported a 7% year-on-year (YoY) decline in net profits after tax during the first nine months of the fiscal year (FY) 2021/2022, recording EGP 143.422 million, according to financial indicators filed to the Egyptian Exchange (EGX) on Tuesday.
Revenues surged 55% YoY to EGP 57.426 million from July 1st 2021 until March 31st 2022.
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.