The Holding Company for Maritime and Land Transport (HCMLT), an affiliate of the Ministry of Transport, announced that its total revenues from distinguished services reached LE4.117 billion during the fiscal year (FY) 2023-2024, compared to LE1.953 billion in FY 2022-2023, and LE1.480 billion in FY 2021-2022, with an increase of 111 per cent and 178 per cent respectively, according to initial indicators.
Within two years, the company achieved impressive business and service results as per the highest quality and efficiency standards since transferring its affiliates to work under the umbrella of the Transport Ministry on August 3, 2022, according to a report published by the Transport Ministry on Friday.
The company’s net profit for the FY 2023-2024 amounted to LE3.223 billion, against LE1.380 billion in FY 2022-2023, and LE1.185 billion in FY 2021-2022, with an increase of 134 per cent and 172 per cent respectively.
The total revenues of the subsidiaries for the FY 2023-2024 stood at LE17.640 billion, compared to LE12.884 billion in FY 2022-2023 and LE8.105 billion in FY 2021-2022, with an increase of 37 per cent and 118 per cent respectively, according to the report.
The report noted that the net profit of the company’s subsidiaries amounted to LE10.551 billion in FY 2023-2024, against LE6.668 billion in FY 2022-2023, and LE3.283 billion in FY 2021-2022, an increase of 58 per cent and 221 per cent respectively.
The HCMLT contributes to three companies operating in the container and cargo handling, namely Alexandria Container and Cargo Handling Co., Port Said Container and Cargo Handling and Damietta Container and Cargo Handling. This helped achieve an increase in the gross net profit that reached LE7.4 billion in FY 2023-2024, compared to 2021-2022 and 2022-2023, according to the detailed report.
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