SODIC profits hike 52.9% in third quarter of 2017

CAIRO – 15 November 2017: Real estate company Sixth of October Development and Investment’s (SODIC) profits hiked 52.9 percent year-on-year in the third quarter (Q3) of 2017, the company announced Wednesday.

The profits valued at LE 166.2 million ($9,423,018.70), compared to LE 108.7 million in Q3 of 2016, SODIC announced in a statement to the Egyptian Exchange.

SODIC’s revenues stood at LE 583.8 million, compared to LE 531.5 million in Q3 of 2016.

The company achieved LE 341.5 million profits in the first half of 2017 compared to LE 157.78 million in the previous year.

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.