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.
Dividends
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.
