Arab Finance: Suez Canal Company for Technology Settling (SCTS) reported a 35.7% year-on-year (YoY) increase in consolidated net profits after tax attributable to the parent company during the nine-months period to May 31^st, 2024, reaching EGP 1.049 billion from EGP 772.795 million, as per a filing.

Revenues came in at EGP 1.594 billion in the period starting September 1st, 2023, to May 31^st, 2024, up from EGP 1.181 billion in the corresponding period of 2022/2023.

The company also earned EGP 814.765 million in standalone net profits after tax in the nine-month period, compared to EGP 728.34 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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