Enterprise Nets Half Billion Br Profit




The Ethiopian Shipping and Logistics Service Enterprise (ESLSE) has reported a net profit of 520 million Br for the half quarter of 2017, representing 109pc of its targeted performance. The target set by the company for the period was 478 million Br. ESLSE transported 2.3 million tonnes of incoming cargo, which is 82pc of its target.

However, the company transported outgoing cargo far below its goals, achieving only seven percent of its targeted outcomes. Last year, the company made eight billion Birr from sea transportation, cargo services and port service.

Foreign currency and containers being delayed at ports were some of the critical challenges faced by the Enterprise in the past six months.

Recently, the government entered into negotiations with a China-based company to sell part of, or all of, the enterprise and open up the sector. However, there has not been any developments since that announcement.



Published on Mar 18,2017 [ Vol 17 ,No 880]


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