Ethiopian Shipping & Logistics Services Enterprise (ESLSE) has earned a 340 million Br gross profit in the first quarter of the current fiscal year. It achieved 74pc of the target set for the past three months, according to Wondafrash Assefa, communications director at the Ministry of Public Enterprises (MoFE).

The Enterprise’s profit is 96 million Br higher than that of the same period last year. During the past fiscal year, it managed to earn revenues of 16.5 billion Br,  a slight decline compared to the preceding year. In the same period, 4.5 million tonnes of cargo was transported to 24 destinations.

For the current fiscal year, the Shipping giant expects to collect revenues of 23.6 billion Br.

Re-established six years ago, the Enterprise is a merger of Ethiopian Shipping Lines, Maritime & Transit Services Enterprise and Dry Port Enterprise.

Source : AddisFortune