Egypt's property developer SODIC doubles net profit in 2015

Ahram Online , Wednesday 16 Mar 2016


Egypt's third largest real estate developer SODIC saw its share price rise significantly by 8.51 percent to be traded at EGP 9.43 in midday trading on Wednesday after releasing its consolidated financial results for last year.

The listed Sixth of October Development and Investment Company saw net profit of EGP 311 million for 2015, up from EGP 142 million a year earlier, the company stated on its website.

The company said revenue for the period rose to EGP 1.47 billion from EGP 1.37 billion in 2014.

(Official exchange rate is currently $1= EGP 8.85)

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