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Suez Canal Technology records hike in FY22/23 results; dividends unveiled

Suez Canal Technology records hike in FY22/23 results; dividends unveiled
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Cairo – Mubasher: Suez Canal Company for Technology Settling posted consolidated net profits after tax valued at EGP 860.81 million during fiscal year (FY) 2022/2023, an annual hike from EGP 597.30 million, including non-controlling interest.

The EGX-listed firm witnessed year-on-year (YoY) higher revenues at EGP 1.55 billion in the 12-month period that ended on 31 August 2023, compared to EGP 1.39 billion, according to the income statements.

Earnings per share (EPS) hit EGP 9.35 in FY22/23, versus EGP 6.46 in FY21/22.

Total assets amounted to EGP 3.90 billion as of 31 August 2023, marking a rise from EGP 3.42 billion in the year-ago period.

Standalone Financial Results

In the September 2022- August 2023 period, Suez Canal Technology generated net profits after tax worth EGP 756.02 million, higher YoY than EGP 516.43 million.

Non-consolidated revenues climbed to EGP 601.78 million in FY22/23 from EGP 589.09 million in the previous FY, while the EPS increased to EGP 8.22 from EGP 5.59.


During their meeting on 25 October 2023, the company’s board members approved a cash dividends distribution of EGP 7.25 per share for FY22/23.

In the first nine months (9M) of FY22/23, Suez Canal Technology registered EGP 774.91 million in consolidated net profit, up from EGP 519.10 million in 9M-21/22, including minority shareholders’ rights.