Addis Ababa, August 21, 2023 (FBC) – The Ethiopian Shipping and Logistics (ESL) announced on Monday that it has amassed over 6 billion birr in profit during the concluded Ethiopian fiscal year. ESL also announced a plan to increase its profit to 6.7 billion Birr this fiscal year.
ESL CEO Beriso Amelo, in a press briefing, stated that challenges at both the national and global arena including the coronavirus pandemic, Russia-Ukraine crisis, and the conflict in the northern part of the country has influenced its performance.
The company said that it has achieved over 100pct of its plan of 5.4 billion Birr under withstanding the challenges it faced due, Beriso said.
The company has secured 480 million USD out of the planned 500 million USD achieving 87 percent of its plan, he added.
The Ethiopian Shipping and Logistics has transported 34 percent of the total 7.4 million tons of imported shipment, he stated, adding that ESL has bought 185 heavy duty trucks to improve its land transport services.
Efforts have been exerted to transport soil fertilizers on time and it was fruitful, Beriso said, announcing additional preparations to deliver this year’s fertilizer needs on time.
According to the CEO, the Ethiopian Shipping and Logistics is increasing its presence on global ports.