Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) on Wednesday announced that it has amended its expectations for 2018 contracts to EGP 6.5 billion.
The real estate developer expected the value of its contracts to increase by 14% year-on-year by the end of 2018, according to SODIC’s statement to the Egyptian Stock Exchange (EGX).
The value of 2018 deals is 25% below the company’s previous expectations.
In January, SODIC revealed that it was planning to achieve a total value of contracts of EGP 8.7 billion during the full-year 2018.
For the first six months of 2018, SODIC’s profits recorded EGP 374.09 million, compared to EGP 341.5 million in the same period of the prior year.
By 10:50 Egypt time, SODIC’s stock inched down 0.06% at EGP 16.23.
