Cairo – Mubasher: The consolidated net profits after tax of Suez Canal Company for Technology Settling hit EGP 774.91 million during the first nine months (9M) of fiscal year (FY) 2022/2023.
The recorded net profits were higher year-on-year (YoY) than EGP 519.10 million, including minority interest, according to the income statements.
Revenues amounted to EGP 1.18 billion in 9M-22/23, compared to EGP 1.07 billion in 9M-21/22.
The earnings per share (EPS) jumped to EGP 8.50 during the nine-month period that ended on 31 May 2023 from EGP 5.69 in the year-ago period.
Standalone Business
The company recorded an annual hike in standalone net profit after tax to EGP 728.34 million in 9M-22/23 from EGP 445.11 million.
Non-consolidated revenues widened to EGP 599.03 million in 9M-22/23 from EGP 572.29 million a year earlier, while the EPS climbed to EGP 7.92 from EGP 4.82.
Q3-22/23 Financial Results
During the third quarter (Q3) of FY22/23, the consolidated net profits after tax jumped to EGP 166.50 million from EGP 63.05 million in Q3-21/22. Meanwhile, the revenues climbed to EGP 306.10 million from EGP 298.65 million.
The EGX-listed firm turned to standalone profits valued at EGP 41.07 million as of 31 May 2023, against net losses worth EGP 113.85 million in the corresponding period in 2022.
During the first half (H1) of FY22/23, Suez Canal Technology generated consolidated net profits after tax valued at EGP 608.40 million, up YoY from EGP 456.04 million, including non-controlling equity.
