Egypt’s property developer SODIC Q3 profits jump by 53%

Egypt’s property developer firm SODIC reported Wednesday a 52.9 percent increase in its third-quarter profits to 166.2 million Egyptian pounds ($9.4 million) from 108.7 million pounds during the same period in 2016.

Revenues jumped to 583.8 million pounds, compared to 531.5 million pounds last year.

During the first nine months of 2017, profits rose to 507.7 million pounds, compared with 266.49 million pounds during the same period in 2016.