The Board of Directors of the Egyptian Company for Transportation Services (Egytrans) decided on Wednesday to consider the possibility of acquiring a company operating in a field complementary to its activities in order to expand and support its business.
The company said that alternatives and available ways to implement the acquisition are being studied to make a preliminary decision regarding proceeding with the deal.
Daily News Egypt also learned that the company is working in the field of digital transformation of the logistics sector, and that the goal of the acquisition is to help the company in its plan to automate most of its operations, with sources refusing to disclose the name of the company that is planned to be acquired.
Abeer Lehita — Chairperson and Managing Director of Egytrans — said that the company’s revenues during 2021 amounted to EGP 293.5m — an increase of 35.8% from the previous year — which led to an increase in net profits to EGP 18.3m after taxes — an increase of 40% — with a net profit margin of 6.2%, compared to a net profit margin of 6%.
She attributed the improvement in net profits marginally to the company’s focus on improving its operational performance and searching for expansion opportunities, in addition to improving the performance of key business sectors during 2021, especially logistics and land transport.
“We achieved good results for 2021 despite the continuing negative effects of the coronavirus pandemic and its pressure on the global cargo market, as well as the high costs of all transportation and shipping operations in the Middle East by 437% as a result of the large deficit in containers and the increase in global demand for goods.”
Last year, the company supported its marketing and sales capabilities by expanding the service offerings provided by the company within the framework of the strategy it has set over the last two years.
