Cairo – Mubasher: Six of October Development and Investment (SODIC) has sold 1,735 units during the first nine months (9M) of 2022, generating EGP 11.80 billion in gross contracted sales, up 119% from EGP 5.39 billion in the year-ago period.
SODIC’s West Cairo accounted for 25% of sales during the nine-month period ended 30 September 2022, backed by The Estates Residences, which was launched during this year’s first quarter (Q1) and generated 10% of SODIC’s gross contracted sales meanwhile, according to a recent press release.
Moreover, East Cairo contributed 31% of the period’s gross contracted sales while North Coast accounted for 44% of sales.
The EGX-listed firm registered cancellations of EGP 917 million during the January-September period in 2022, representing 8% of the period’s gross contracted sales, compared to 16% in the same period in 2021.
Net cash collections stood at EGP 4.37 billion for the January-September 2022 period, compared to EGP 3.64 billion worth of collections in the year-ago period.
In addition, capital expenditures (CapEx) spent during this year’s nine-month period registered EGP 2 billion, down from EGP 2.10 billion over the corresponding period in 2021.
During the January-September period in 2022, the company’s consolidated net profits after tax increased to EGP 438.74 million, versus EGP 346.95 million in 9M-21, including minority shareholders' rights.
The firm registered EGP 4.65 billion in revenue during January-September 2022, a leap from EGP 3.31 billion in the year-ago period.
