Egypt’s property developer SODIC profits drop 80% in H1

Egypt’s Six of October Development and Investment (SODIC) posted an 80 percent decline in its profits during the first half of this year, announced financial statements on Wednesday.

Profits registered 69.3 million Egyptian pounds ($4.3 million), down from 337.9 million pounds during the first half of 2019.

The real estate developer made first-half revenues worth 1.07 billion pounds, down from 2.016 billion pounds during the same period last year.