SODIC posts 87% YoY consolidated profit in H1 2024
Updated 7/28/2024 11:17:00 AM
Arab Finance: Sixth of October Development and Investment Company (SODIC) reported an 86.7% year-on-year (YoY) surge in consolidated net profits attributable to the parent company during the first half (H1) of 2024 to EGP 625.535 million from EGP 335.083 million, according to financial statement.
Total operating revenues soared to EGP 2.954 billion in H1 2024 from EGP 2.393 billion in H1 2023.
On the other hand, the firm’s standalone net profits after tax dropped to EGP 45.885 million in the six-month period, versus EGP 182.575 million over the same period a year ago.
Meanwhile, standalone sales declined to EGP 1.288 billion from EGP 1.797 billion.
Established in 1996, SODIC is a mixed-use developer listed on the EGX, with a portfolio of diversified projects across Egypt, particularly in Cairo and the North Coast.
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