Canal Shipping Agencies [CSAG.CA] BoD approves 2017/18 budget, expects earnings of EGP60mn
Canal Shipping Agencies [CSAG.CA] BoD has just approved its 2017/18 estimated operational budget, with the following set of numbers: i) EGP70mn in sales; ii) bottom-line earnings of EGP60mn; and iii) includes investments income of EGP70mn. The company set the expected investment budget at EGP6mn, which will be invested in i) new transportation vehicles; and ii) furniture and office equipment. The company added that it would serve about 700 vessels during the year. (Company disclosure)
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