Egyptian Transport & Commercial Services records 40 per cent rise in profits

05 August 2008
Egyptian Transport & Commercial Services has recorded first half profits of EGP3.7m ($697,000) for the first half of the year, a 40 per cent increase on the previous year.

For the same period in 2007, the company made a profit of EGP2.6m.

The company had revenues of EGP92.5m in the first half of 2008, up from EGP70m for the same period last year.

However, the transport services and logistics group has been hit by rising costs on projects that include the second phase of the Cairo Metro, and providing transport links to a range of power, oil and petrochemicals plants.

Egyptian Transport’s net cash flow from all its operations was EGP1.1m for the first six months of the year, and the company lost EGP233,000 from investment activities, although the group retains EGP82.5m in working capital.

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