Egyptian property developer SODIC H1 net profit jumps 203%

Egypt’s property developer SODIC reported on Wednesday a 203 percent year-on-year growth in net profit for the first half of the year.

Net profit through January to June 2021 stood at 225.84 million Egyptian pounds ($14.4 million) compared with 74.51 million pounds for the same period last year, the company said in a bourse filling.

Revenues also rose to 1.87 billion pounds at the end of June from 1.26 billion pounds in the same period last year.