Arab Finance: Suez Canal Company for Technology Settling (SCTS) reported a 54.2% year-on-year (YoY) increase in consolidated net profits after tax attributable to the parent company during the year ended on August 31st, 2024, reaching EGP 1.324 billion from EGP 858.517 million, as per a filing.

Revenues came in at EGP 2.072 billion in the 12 months to August 31st, up from EGP 1.554 billion in the corresponding period a year earlier.

The company also earned EGP 836.880 million in standalone net profits after tax in the 12-month period, compared to EGP 756.02 million in the same period a year ago.

Meanwhile, standalone revenues rose to EGP 694.445 million from EGP 601.78 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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