Egyptian property developer SODIC H1 profit rises to $19.45 mln

Egypt’s third-largest listed property developer SODIC reported first-half net profit of 152.29 million Egyptian pounds (US$19.45 million), up from 90.54 million pounds in the same period last year, the company announced Wednesday.

SODIC, also known as Sixth of October Development and Investment, reported first-half revenue of 585.01 million pounds in the six months to the end of June, down from 634.88 million pounds a year ago, the company said in a statement on the Egyptian bourse. It did not give further details. ($1 = 7.8300 Egyptian pounds).

source: Reuters