Suez Canal for Technology Settling reports $27.4 million profit over 9 month period

The Suez Canal for Technology Settling has reported a consolidated profit of roughly EGP 517 million ($27.4 million) during the nine-month period ending May 31st.

According to financial statements filed with the Egyptian Exchange on Monday, the consolidated profit decreased from EGP 519 million in the same period last year.

In the September-May period, the company’s consolidated revenue increased to EGP 1.07 billion, up from EGP 976.8 million the previous year.

SCTS reported a net profit after tax of EGP 445.1 million in the nine months ended May 31st, a decrease from EGP 481.8 million in the same period last year.

SCTS is a joint-stock company based in Egypt that provides educational services. The company owns and operates October Six University in October Six City, near Cairo, Egypt.