Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) showed a 25.6% year-on-year profit increase in the second quarter of 2017 due to a boost in revenues.
Profits reached EGP 129.5 million in Q2-17 as compared to EGP 103.12 million in the year-ago period, the company announced in a bourse filing on Thursday.
Revenues increased to EGP 468.9 million in Q2-17 as compared to EGP 463.7 million in the year-ago period, while profits increased to EGP 341.5 million in H1-17 as compared to EGP 157.7 million in the year-ago period.
The company standalone profits increased during H1-17 to EGP 147.02 million versus EGP 68.4 million in H1-16, with consolidated profits reaching EGP 211.9 million during Q1-17 as compared to the year-ago period considering minority rights.
At Wednesday’s close, SODIC’s stock declined 0.89% to EGP13.4.
