Canal Shipping Agencies (CSAG) has reported a 95% year-on-year (YoY) increase in net profits after tax during fiscal year (FY) 2022/2023, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on August 31st.

The company has achieved a net profit after tax of EGP 250.567 million in the 12-month period ended June 30th, compared to EGP 179.818 million in FY 2021/2022.

Furthermore, the company has generated revenues of EGP 81.325 million, surging by 10% from EGP 74.266 million a FY 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.
Source: Arab Finance