Egypt: Canal Shipping posts 66% YoY profit hike in 9 months
Arab Finance: Canal Shipping Agencies (CSAG) has reported a 66% year-on-year (YoY) increase in net profits after tax during the first nine months of the fiscal year (FY) 2024/2025, recording EGP 945.194 million, compared to EGP 570.868 million, according to financial indicators filed to the Egyptian Exchange (EGX) on May 6th.
Revenues rose 21% YoY to EGP 93.503 million from July 1st, 2024, until March 31st, 2025, compared to EGP 77.072 million in the same period a FY earlier.
Canal Shipping is a subsidiary of the Holding Company for Maritime and Land Transport that provides marine port services and shipping services to international commercial fleets.
The company operates four agencies, namely Aswan Shipping Agency, Assuit Shipping Agency, El Menia Shipping Agency, and Damanhour Shipping Agency.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
10 hours ago
- Arabian Business
Americana in talks to acquire Five Guys in the region: reports
Americana Restaurants International, the largest out-of-home dining and quick service restaurant operator in the Middle East and North Africa and Kazakhstan with a portfolio that includes brands like KFC, Pizza Hut, Hardee's, Krispy Kreme, Wimpy and Costa Coffee, is reportedly considering adding Five Guys, Cinnabon and Seattle's Best Coffee to that list. Bloomberg has reported, with information from people familiar with the matter, that Americana is in talks to acquire Cravia Inc. from Fajr Capital, the private equity company that has owned Cravia since 2016. Talks are at an early stage, and there is no certainty a deal will be reached, the sources told Bloomberg, which could not get a response from Americana, while Fajr declined to comment. Americana eyes Five Guys acquisition Americana declared a revenue growth of 16.2 per cent for the first quarter of 2025, compared to the same period last year, with like-for-like sales improvements and the expansion of the store network. It reported an EBITDA of $121.7m, an increase of 17.4 per cent and net profit attributable to shareholders was $32.6m, a 16.5 per cent YoY increase. The company generated $33.5 million in Free Cash Flow during the quarter, while maintaining a strong balance sheet with no leverage and healthy cash reserves. Cravia has 78 outlets and more than 2,000 employees. In addition to Five Guys and Cinnabon, it operates or manages brands like Zaatar W Zeit, Seattle's Best Coffee and Carvel.
Zawya
14 hours ago
- Zawya
National Maritime Navigation Centre to strengthen UAE's leadership in maritime sector
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, highlighted that the Cabinet's decision to establish the National Maritime Navigation Centre reflects the UAE's strategic vision for developing an integrated sustainable and innovative maritime ecosystem and reinforcing the country's position as a leading global maritime hub. He explained that the National Maritime Navigation Centre, affiliated with the Ministry of Energy and Infrastructure, represents a significant addition to the ongoing development of the UAE's maritime infrastructure. The new centre will manage and operate the Integrated National Maritime System for monitoring maritime traffic and oversee the National Maritime Single Window, which aims to unify procedures and enhance the efficiency of maritime operations. He affirmed that the centre serves as an advanced platform for cooperation among the various entities involved in the maritime sector, thereby strengthening efforts to monitor and protect the sector and elevate its role as a strategic contributor to the national economy. In this context, he expressed sincere gratitude and appreciation to all stakeholders in the UAE maritime sector for their support, collaboration, and dedicated efforts that contributed to the establishment of the centre. He emphasised that this achievement reflects the spirit of integration and collective action that defines the government work system in the UAE. The Minister said, 'The National Maritime Navigation Centre represents a significant step that will enhance the safety and security of the maritime sector, prevent harmful practices through leveraging high-tech solutions, and propel scientific research and studies that can shape policies and inform decision-making. Furthermore, the centre will significantly drive coordination among concerned entities and unify national policies and legislation, ensuring compliance with the highest global maritime safety and security standards, improving operational efficiency, and reducing regulatory complexities. It will also empower national talents through specialised training and research programmes in maritime fields.' He added, 'This decision reflects our wise leadership's belief that excellence in vital sectors can only be achieved through a systematic institutional approach—one that anticipates the future and transforms challenges into opportunities for growth and innovation. The centre will serve as a national enabler for enhancing the quality of maritime services and achieving integration between maritime development and environmental sustainability.' For his part, Eng. Hassan Al Mansouri, Undersecretary for Infrastructure and Transport Affairs at the Ministry of Energy and Infrastructure, said, 'The centre will contribute to the development of maritime policies in line with international best practices and the implementation of smart monitoring systems and advanced planning tools—enhancing the UAE's ability to lead the future of maritime navigation. The UAE enjoys world-class maritime infrastructure and a strategic geographic location at the heart of global trade routes. Through this centre, we will strengthen the country's role in supporting supply chains, facilitating international trade, and empowering a new generation of qualified national talents to lead the maritime sector toward a more sustainable future.'
Zawya
17 hours ago
- Zawya
Tunisia: FDI up 21% in 2024 (UNCTAD)
Tunis - Foreign Direct Investment (FDI) in Tunisia increased by 21% in 2024, compared to 2023, reaching $936 million, according to the latest World Investment Report published Thursday by the United Nations Conference on Trade and Development (UNCTAD). Along with Egypt, Tunisia contributed «significantly» to the rise in the value of new projects in North Africa, where investments grew by 12% to reach $76 billion, accounting for two-thirds of the continent's total investment spending. Tunisia contributed to this growth with investment announcements worth $13 billion, along with a considerable increase in the number of projects. According to UNCTAD, North Africa was the only region in the continent to record an increase in the value of new projects. It also attracted the highest amount of FDI on the continent, with a value of $51 billion, compared to $13 billion in 2023. Moreover, the report highlighted a significant rebound in FDI flows to Africa, which surged by 75% to reach $97 billion, representing 6% of global FDI flows, compared to 4% the previous year. This increase is largely attributed to an international financing agreement for urban development projects in Egypt, according to the same source. Excluding this boost, FDI in Africa still grew by 12%, reaching about $62 billion, which is 4% of global flows. Efforts to facilitate investment continued to play an important role in Africa, accounting for 36% of investor-friendly policy measures. Liberalisation also remained a key aspect of investment policy-making in both Africa and Asia, representing one-fifth of the measures adopted in 2024. The continent attracted a growing share of global megaprojects in 2024, including seven valued at over $4 billion each. Among the largest announcements was a megaproject in Tunisia's renewable energy sector, worth a total of $6 billion. At the sector level, construction and metal products saw the largest increases in investment in entirely new projects, while electricity and gas supply projects dropped by $51 billion. According to the report, European investors hold the largest stock of FDI in Africa, followed by the United States and China. Chinese investments, valued at $42 billion, are diversifying into sectors such as pharmaceuticals and agribusiness. © Tap 2022 Provided by SyndiGate Media Inc. (
