Egyptian developer SODIC 9-month net profit surges to $27.9mn

Egypt’s third-largest listed property developer SODIC (OCDI.CA) reported Sunday a 9-month net profit of 224 million Egyptian pounds ($27.90 million), higher from 99 million in the same period last year, the company announced in a statement.

Sixth of October Development and Investment Company, the country’s third-largest listed real estate developer, said revenues for the period were 890 million Egyptian pounds, down from 897 million pounds last year.

Source: Reuters