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Suez Canal Technology's profit grows 26% in six months

Suez Canal Technology's profit grows 26% in six months
The revenues increased to EGP 689.239 million

Cairo – Mubasher: Suez Canal Company for Technology Settling reported net profits of EGP 389.99 million in the first half (H1) of the company’s fiscal year, up by 26.39% year-on-year (YoY) from EGP 308.549 million, including minority shareholders’ rights.

The revenues increased to EGP 689.239 million in the six-month period ended 28 February from EGP 622.467 million in the corresponding period a year earlier, the company said in a bourse disclosure on Monday.

As for standalone business, the company logged net profit of EGP 474.608 million from September 2020 to the end of last February, up from EGP 273.161 million in the year-ago period.

During the September-November period of 2020, the company registered net profits of EGP 237.93 million, up from EGP 183.36 million in the same period in 2019.