Egypt’s SODIC Q1 Net Profit Falls 83%

Sixth of October Development and Investment Company – SODIC (OCDI.CA), the leading Egyptian real estate developer, reported its first quarter net profit of EGP 6.07 million, representing a decline of 83%, compared to EGP 35.7 million for the same period in 2012.

Basic earnings per share for the Q1/13 hit EGP 0.08 per share, opposed to EGP 0.35 per share during the same period a year earlier.

Total equities for the Q1/13 reached around EGP 2.162 billion, compared to EGP 2.164 billion for Q1/12.