Suez Canal Co. for Technology Settling (SAE) said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to 34 Egyptian piastres per share, a gain of 33.7% from 26 piastres per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 31.8 million pounds, a gain of 40.7% from 22.6 million pounds in the year-earlier period.
The normalized profit margin climbed to 120.4% from 86.1% in the year-earlier period.
Total revenue totaled 26.3 million pounds, compared with 26.2 million pounds in the prior-year period, and total operating expenses declined 45.6% year over year to 3.8 million pounds from 6.9 million pounds.
Reported net income rose 76.9% on an annual basis to 49.0 million pounds, or 53 piastres per share, from 27.7 million pounds, or 32 piastres per share.
As of March 27, US$1 was equivalent to 7.63 Egyptian pounds.
