Egytrans Board Approves Subsidiary Listing On NILEX

The board of Egyptian Transport – Egytrans (ETRS.CA) has approved to listing Egyptian Transport & Logistics (ETAL), a subsidiary, in the Egyptian Exchange for SMEs – NILEX.

The Board has mandated Hussam Leheta – Egytrans Chairman and Executive member – to adopt the necessary procedures for listing.

Leheta said the company has put a plan for its subsidiary so as to become one of the main transport and logistics companies in Egypt.

Therefore, Leheta mentioned that the company has imported a number of new equipments worth EGP 19 million to be included in the heavy transport fleet within days.

Worth mentioning, Egytrans’ consolidated business results for the first half of 2012 revealed a net profit of EGP 10.78 million, 44.9% higher than a year earlier net profit of EGP 7.441 million.