ArabFinance: Canal Shipping Agencies (CSAG) is expecting to achieve a net profit after tax of EGP 200 million during the fiscal year 2022/2023, according to estimates filed to the Egyptian Exchange (EGX) on Wednesday.
The company is seeking to generate EGP 69.5 million in basic operating revenues in FY 2022/2023.
It is worth noting that Canal Shipping Agencies has reported a 7% year-on-year (YoY) decline in net profits after tax during the first nine months of FY 2021/2022, recording EGP 143.422 million.
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.