SCZone half-year revenues surge by 32% to EGP 5.7 bln

The net revenues of the General Authority of the Suez Canal Economic Zone (SCZone) have surged to approximately EGP 5.7 billion during the first half of fiscal year (FY) 2024/2025, a 32 percent increase from the EGP 4.3 billion recorded during the same period in FY2023/2024, according to a cabinet release on Thursday.

This exceeds the EGP 5.2 billion revenue forecast for FY2024/2025 by eight percent.

The announcement came during the authority's fourth meeting in FY2024/2025.

During the meeting, SCZone’s board of directors reviewed the authority's financial performance during the first half of the fiscal year, covering the period from 1 July to 31 December 2024.

Port revenues accounted for 77 percent of the total revenues, while other activities contributed 23 percent. This marks a significant increase from their average share of eight percent over the past five years.

Moreover, the board approved the budget estimated for FY2025/2026.