Alexandria Container and Cargo Handling Company (Alex Cont) recorded a net profit of EGP 1.89bn during the period of July to May during the fiscal year (FY) 2016/2017, with an increase of 45.7 percent year-on-year.
Alex Cont issued its financial results for the first 11 months of FY 2016/2017, noting that the annual revenues rose by 53.3% y-o-y, recording EGP 2.45bn in the first 11 months of the FY 2016/2017.
The company pointed out that its financial results continue to show significant y-o-y growth due to higher average dollar-denominated revenues per container compared to pre-flotation.
“The average revenue per container increased by 68.2% y-o-y in the first 11 months of FY 2016/2017, while the number of working containers decreased by 8.8% y-o-y, recording a total of 816,369 containers during this period,” the company announced. The volume of transit working containers increased by 23.5% y-o-y, to reach 11,720 containers in the first 11 months of FY 2016/2017.
On a monthly basis, the average revenue per container increased by 3.1% on a monthly basis (and 84.7% y-o-y affected by the EGP flotation) in May 2017, supported by the recovery of import activity.
The working containers increased by 10.9% on a monthly basis, to reach a total of 80,095 containers during May—down 13.1% y-o-y.
The company has recorded revenues of EGP 292m—up 60.5% y-o-y and 14.4% on a monthly basis—and a net profit of EGP 231m—up 70.6% y-o-y and 13.6% on a monthly basis.
