Maritime, Land Transport firm units post LE 1.67B profit in FY16/17

CAIRO – 23 August 2017: Three companies, subsidiaries for the Holding Co. for Maritime and Land Transport, achieved a hike in revenues and profits in the fiscal year (FY) that ended on June 30, 2017, according to the firms’ reports on the Egyptian Exchange (EGX).

Damietta Container and Cargo Handling Co.’s profits surged 117 percent to LE 905.7 million ($51.2 million), while the company’s revenues grew 76 percent year-on-year to exceed LE 1 billion in the FY 2016/17.

Profits of Port Said Container and Cargo Handling Co. jumped 105.7 percent to reach LE 708 million, while revenues increased 63 percent.

Moreover, the General Egyptian Warehouses Company recorded LE 62.392 million, rising 12.3 percent in the FY 2016/17 and posted LE 300.9 million revenues, with a 1.3 percent increase year-on-year.