By: Fahd Omran
Cairo – Mubasher: Egyptian Transport and Commercial Services Co’s (Egytrans) consolidated revenues are expected to fall 11.9% year-on-year in 2019, the company’s chairman said.
Egytrans aims to log EGP 245 million in revenue this year, versus EGP 278 million in 2018, Abir Leheta told reporters.
Revenues may decrease this year due to the decline in project activities that pushed the company’s revenues to an unprecedented level in 2017, Leheta highlighted.
The company is looking to achieve consolidated profits of EGP 40 million in 2019, versus EGP 41 million last year, she added.
The chairman revealed that the company seeks to pump new investments this year into the transport and logistics sector in a bid to boost the company’s business.
Egytrans is planning to double its ground transport fleet in 2019 to reach 10 trucks at a cost of EGP 8 million, she said, adding that five trucks will be financed by the financial leasing system.
The company’s target investments in the logistics sectors have not been determined yet, Leheta indicated.
She further noted that Egytrans seeks business stability and growth by tending to expand in the logistics sector along with the transport sector.
Translated by: Mai Ezz El-Din
