Cairo – Mubasher: Suez Canal Company for Technology Settling reported a 747.29% year-on-year profit hike during the nine-month period ended 31 May on the back of higher revenues from investing in sister companies.    

Net profits stood at EGP 405.26 million from September 2018 to last May, compared to EGP 47.83 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

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

Revenues from investing in sister companies reached EGP 414.2 million at the end of May, the statement added.

During the six-month period ended 28 February, the company’s net profits rose to EGP 213.8 million from EGP 31.67 million in the corresponding period a year earlier.