Sixth of October Development and Investment Company (SODIC) achieved EGP 703m revenues, up 275% year-on-year (y-o-y), according to its consolidated financial results for the first quarter (Q1) 2017 on Tuesday. SODIC has achieved a net profit estimated at EGP 211m, up 312% y-o-y, with a net profit margin of 30%. Sherif noted that the triple digit growth in revenues reflects the ramp up in delivered units. He pointed out that the gross profit increased 240% y-o-y to reach EGP 259m, reflecting a gross profit margin of 37%. The net profit margin of 30% recorded an improvement of 3% from the same period last year,” Sherif added.

Source: Daily News Egypt May 16, 2017 15:22 UTC