EGYtrans switches to profits in Q1

Updated 5/31/2022 1:24:00 PM

Arab FinanceEgyptian Transport and Commercial Services Company (ETRS) (EGYtrans) has turned profitable for the first quarter (Q1) of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 31st.

The company has recorded a consolidated net profit attributable to the holding company of EGP 14.26 million in Q1 2022, versus a net loss after tax of EGP 20,052 in Q1 2021.

Operating revenues grew to EGP 94.28 million in Q1 2022 from EGP 57.18 million in the year-ago period.

As for the standalone financial statement, the company’s standalone net profit after tax rose to EGP 25.68 million in Q1 2022 from EGP 14.19 million in the same quarter of 2021.

EGYtrans is an Egypt-based company engaged in international sea, air, and land transportation services.

The company offers a wide range of services such as import and export, general cargo handling, dry cargo handling, customs clearance, warehousing, packing, and specialized transportation.