Canal Shipping Agencies targets EGP 970m net profits in FY26/27

The board members of Canal Shipping Agencies Company approved its estimated budget for fiscal year (FY) 2026/2027.

The EGX-listed company targets net profits before tax worth EGP 970 million during the July 2026-June 2027 period, according to a bourse filing.

During its 18 March 2026 meeting, the board also greenlighted an investment budget totaling EGP 47.55 million for FY26/27 that will be self-funded.

Earlier this month, technical indicators showed Canal Shipping Agencies’ stock trading in a secondary downtrend, remaining below both its 50-day and 200-day moving averages, signaling sustained selling pressure.