Cairo – Mubasher: The consolidated financial statements of the Egyptian Transport and Commercial Services Co (Egytrans) revealed a 24% year-on-year drop in its net profits during 2019.
The company’s net profits fell to EGP 31.8 million last year from EGP 41.7 million in 2018, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Meanwhile, the company’s revenues slid to EGP 247.04 million in 2019, compared to EGP 277.85 million in the previous year.
As for standalone business, Egytrans reported net profits of EGP 28.31 million last year from EGP 35.52 million in 2018.
It is noteworthy that during the first nine months of 2019, Egytrans logged EGP 29.8 million in net profits, down from EGP 35.08 million in the year-ago period.
