Arab Finance: Suez Canal Company for Technology Settling (SCTS) reported a 13.3% year-on-year (YoY) decrease on consolidated net profit after tax attributable to the parent company during the three-months period until February 29^th, 2024, according to the financial statement filed to the Egyptian Exchange (EGX) on April 18^th.

Net profits grow to EGP 170.658 million from December 2023 to February 2024, up from EGP 196.828 million.

Revenues reached EGP 442.877 million in the period starting December 1st, 2023, to February 29th, 2024, up from EGP 302.634 billion in the corresponding period of 2022/2023.

The company also garnered EGP 47.168 million in standalone net profits after tax, compared to EGP 80.254 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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