Arab Finance: Suez Canal Company for Technology Settling (SCTS) reported a 44.19% year-on-year (YoY) increase on consolidated net profit after tax attributable to the parent company during its fiscal year (FY) 2022/2023, which ended on August 31st, according to the financial statement filed to the Egyptian Exchange (EGX) on October 26th.

 Net profits grow to EGP 858.517 million in the 12-month period from EGP 595.396 million a year ago.

Operating revenues reached EGP 1.554 billion in the period starting September 1^st, 2022, to August 31^st, 2023, up from EGP 1.394 billion in the corresponding period of 2021/2022.

The company also garnered EGP 756.020 million in standalone net profits after tax, compared to EGP 516.436 million.

Incorporated in 1996, the company offers IT educational services, establishes, manages, and operates activities for technology development zones, and scientific labs, in addition to research and training centers, as well as the provision of technology-related services. It has investments in October 6 University.

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