Cairo – Mubasher: The net profits of the Egyptian Transport and Commercial Services Co (Egytrans) plunged by 59.8% year-on-year (YoY) to EGP 12.07 million in the first nine months of 2020 from EGP 30.02 million, the unaudited consolidated financial results showed.
The company’s sales retreated to EGP 149.43 million in the January-September period from EGP 214.65 million in the year-ago period, according to a bourse disclosure on Thursday.
As for standalone business, Egytrans logged EGP 13.54 million in net profits in the nine-month period ended 30 September, down from EGP 29.43 million in the corresponding period in 2019.
The fall in profits was ascribed to lower operating income, the statement showed.
During the first six months of the year, the company achieved net profits of EGP 9.57 million, down from EGP 23.73 million in the prior-year period.
