SODIC posts LE 342M profits, Revenues hit LE 1.17B in H1

CAIRO – 17 August 2017: Sixth of October Development & Investment. Real Estate (SODIC) achieved LE 341.5 million ($ 19 million) profits in the first half of 2017 compared to LE 157.78 million in the previous year, a Thursday statement said.

Net consolidated profit reached LE 129.5 in the second quarter of this year, up from LE 1.3 million in the same period of the previous year.

Gross profits registered LE 433.98 million in the first six months of 2017, compared to LE 230 million in the same period last year, while it recorded LE 175 million in Q2 of 2017, rising from LE 154.5 million in Q2 of 2016.

Total revenues went up to LE 1.17 billion in H1 of 2017 from LE 624 million in H1 of 2016 and hit LE 469 million in Q2 of 2017, increasing from LE 436.7 million in the same period in 2016.

General and administrative expenses stood at LE 107 million compared LE 77 million in H1 of this year, while they hit LE 58.6 million in Q2 of 2017, up from LE 41.79 million in Q2 of 2016.

Earnings per share (EPS) reached LE 0.99 after registering LE 0.43 in the same period of the previous year. EPS recorded LE 0.38, rising from LE 0.28 in Q2 of 2016.