Holding Land Transport attains revenues of $563mn in Egypt’s FY2015-16

Egyptian Holding Company for Maritime and Land Transport attained revenues estimated at more than 5 billion Egyptian pounds (US$563 million) during fiscal year 2015-16.

Chairperson Mohamed Youssef stated Sunday that the net profit of the company registered around 2 billion pounds by the end of June 2016.

He made these remarks on the sidelines of launching first phase of pumping new passengers and cargo buses in the attendance of state’s  Public Enterprise Sector Minister Ashraf Sharkawy.

The Holding Company for Maritime and Land Transport is an affiliate of the Ministry of Investment that owns three affiliate companies specialised in the public transportation of passengers in Egypt.

The three affiliates are East Delta for transport and tourism company, Upper Egypt for transport and Tourism Company , West and Middle Delta transport and tourism.

Chairman Youssef clarified that the three affiliate companies have turned into profitability in the budget of 2015-16.