Public Enterprises Bag 29.6b Br Gross Profit

Jun 1 , 2019

The Public Enterprises Holding & Administration Agency reported that 22 public enterprises grossed 29.6 billion Br in profit during the first three quarters of the current fiscal year. Ethio telecom has produced the highest share at 62pc, followed by the Commercial Bank of Ethiopia at 34pc. Ethiopian Shipping & Logistics Services Enterprise accounted for four percent. In addistion seven enterprises  generated 58 million dollars in revenue, fulfilling 73pc of their plan, according to Wondafrash Assefa, communication director at the Agency. Ethiopian Development Bank; the Ethiopian Mineral, Petroleum & Biofuel Corporation; the Ethiopian Pulp & Papers S.C; the Ethiopian Metals & Engineering Corporation; Ethiopian Trading Businesses Corporation; and Shebele Transport S.C suffered losses within the reporting period.