Egypt’s SODIC reports 2015 net profit of $35.9 mln

Egyptian real estate developer six of October Development & Investment (SODIC) posted consolidated net profit of 321.3 million Egyptian pounds ($35.9 million) for 2015, up from 154.3 million a year earlier, the company said Wednesday  in a statement.

SODIC, the country’s third-largest listed real estate developer, said revenue for the period rose to 1.47 billion Egyptian pounds from 1.37 billion pounds in 2014.

Furthermore, it reported standalone net profits of EGP 213.2 million compared to net profits of EGP 61.522 in the same period a year ago

According to the consolidated financial results, the company recorded total loans and credit facilities of EGP 1.71 billion in 2015. Whereas it registered standalone total loans and credit facilities of EGP 627.5 million.