Cairo – Mubasher: Suez Canal Company for Technology Settling posted consolidated net profits after tax worth EGP 608.40 million during the first half (H1) of fiscal year (FY) 2022/2023, an annual hike from EGP 456.04 million, including minority interest.
Revenues surged to EGP 875.14 million in H1-22/23 from EGP 771.38 million as of 28 February 2022, according to the financial results.
The earnings per share (EPS) amounted to EGP 6.67 in the first six months (6M) of FY22/23, higher than EGP 5 during the same period in FY21/22.
Meanwhile, the total consolidated assets increased to EGP 3.71 billion in H1-22/23 from EGP 3.42 billion as of 31 August 2022.
Standalone Income Statements
The EGX-listed firm’s standalone profits after tax enlarged to EGP 681.31 million in H1-22/23 from EGP 560.10 million in H1-21/22, while the EPS climbed to EGP 7.40 from EGP 6.08.
Non-consolidated revenues widened to EGP 596.28 million as of 28 February 2023 from EGP 555.48 million a year earlier.
Financial Results for Q2-22/23
In the second quarter (Q2) of FY22/23, Suez Canal Technology generated consolidated net profits after tax valued at EGP 197.36 million, including non-controlling interest. The revenues hit EGP 302.63 million, while the EPS reached EGP 2.17.
As for the standalone business, the net profits after tax stood at EGP 80.25 million in Q2-22/23, whereas the revenues totalled EGP 11.49 million.
In Q1-22/23, the company witnessed an annual rise in consolidated net profit to EGP 411.03 million from EGP 285.55 million.
