Cairo – Mubasher: Suez Canal Company for Technology Settling on Thursday posted a 21% year-on-year increase in net profit for fiscal year 2017/2018.

The company generated EGP 55.7 million in the period starting September 2017 to August 2018, versus EGP 46.16 million in the prior fiscal year, according to a filing to the Egyptian Exchange (EGX).

Assets turnover narrowed to EGP 101.06 million in the 12-month period, versus EGP 101.7 million in FY16/17.

The company’s fiscal year starts in September and ends in August.

It is worth noting that Suez Canal Technology previously reported achieving profits of EGP 47.83 million in FY16/17, versus EGP 28.17 million a year earlier.