Suez Canal Technology’s consolidated profits exceed $17.63mln in Q1-23/24

Suez Canal Technology’s consolidated profits exceed $17.63mln in Q1-23/24

Cairo – The consolidated profits after tax of Suez Canal Company for Technology Settling increased to EGP 545.17 million in the first quarter (Q1) of fiscal year (FY) 2023/2024 from EGP 411.03 million in Q1-22/23.

Basic earnings per share (EPS) stood at EGP 5.98 during the September- November 2023 period, up year-on-year (YoY) from EGP 4.51, according to the financial results.

Revenues hit EGP 737.27 million in Q1-23/24, compared to EGP 572.51 million in Q1-22/23.

Total assets amounted to EGP 5.18 billion as of 30 November 2023, higher than EGP 3.90 billion at the end of August 2023.

Standalone Financials

The EGX-listed firm registered EGP 716.12 million in standalone net profit after tax during Q1-FY23/24, an annual rise from EGP 601.05 million.

Non-consolidated EPS jumped to EGP 7.74 in Q1-23/24 from EGP 6.59 in Q1-22/23, while the revenues hiked to EGP 685.63 million from EGP 584.79 million.

In FY22/23, Suez Canal Technology witnessed YoY higher consolidated net profits after tax at EGP 860.81 million, compared to EGP 597.30 million, including non-controlling interest.

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