Ethiopian Shipping and Logistics Service Enterprise (ESLSE) disclosed it made a profit of 520 million Birr during the first quarter of 2017. The performance seems to have attained 109 percent of the target set by the enterprise. The target was making 478 million Birr.

ESLSE also managed to meet 82 percent of the target it set for amount of incoming cargo to transport. The company managed to transport 2.3 million tons of incoming cargo during the time period. However, the enterprise’s outgoing cargo transport fail way behind its target. ESLSE managed to hit only 7 percent of the target it has set.

In the past year, ESLSE made 8 billion Birr from sea transportation, cargo services and port services.

In the recent past, the Ethiopian government was holding negotiations with a Chinese company to sell part of its capital. However, there has not been any further development after that announcement.

Source: Fortune