Suez Canal Technology reports higher annual profits; dividends proposed

The company’s revenues rose to $31.10mln during the September-August period of FY21/22

Staff Writer, Mubasher

October 5, 2022

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Cairo – The standalone net earnings after tax of Suez Canal Company for Technology Settling recorded EGP 516.43 million during fiscal year (FY) ended on 31 August 2022, a jump from EGP 498.57 million in the previous FY.

Basic earnings per share (EPS) amounted to EGP 5.59 in the twelve-month period of FY21/22, compared to EGP 5.42 a year earlier, according to a stock exchange statement on Wednesday.

Similarly, the company’s revenues rose to EGP 589.09 million during the September-August period of FY21/22, compared to EGP 514.95 million in the same period in FY20/21.

In a separate disclosure, the company said its board recommended a cash dividend distribution of EGP 5.25 per share to shareholders for FY21/22.

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