Cairo – Mubasher: Egyptian Transport and Commercial Services Co (Egytrans) on Monday reported a 45.9% year-on-year drop in consolidated profits for 2018.
Net profit amounted to EGP 41.8 million in the full-year ended 31 December 2018, versus EGP 77.25 million in 2017, the company said in a filing to the Egyptian Exchange (EGX).
Egytrans attributed the profit fall to a decline in the number of projects, it said in a separate statement.
Sales retreated to EGP 277.8 million last year, versus EGP 352.29 million in 2017, Egytrans added.
Earlier in February, Egytrans reported a 51.4% year-on-year decline in standalone profits for 2018 to EGP 35.3 million versus EGP 72.6 million in 2017, while sales had fallen to EGP 242.6 million last year, versus EGP 295.6 million a year earlier.
In November, Egytrans posted a net profit of EGP 35.92 million for the first nine months of 2018, versus EGP 70.76 million in the nine-month period ended September 2017.
