03‏/05‏/2025

SODIC's profits rise to 342 million pounds in the first half of 2023

The consolidated financial statements of the Sixth of October Development and Investment Company (SODIC), during the first half of this year, showed an increase in its profits by 15.5% on an annual basis.

The company said in a statement to the Egyptian Stock Exchange that it achieved a net profit of 341.71 million pounds during the period from January to the end of June 2023, compared to 295.71 million pounds in profits during the same period of the previous year, taking into account minority rights.

The company's revenues increased during the first half of this year to reach 2.91 billion pounds, compared to 2.73 billion pounds, during the same period of the previous year.

On the independent business level, the company turned to profits, achieving 182.57 million pounds during the first half of 2023, compared to losses amounting to 118.65 million pounds in the comparative half of last year.

The consolidated financial statements of the Sixth of October Development and Investment Company (SODIC), for the first quarter of this year, revealed that the company's profits declined by 16.2%, on an annual basis, to reach 191.02 million pounds during the period from January to the end of March 2023, compared to profits amounting to 228.2 million pounds. During the same quarter of 2022, taking into account minority rights.

The share of the parent company’s owners in the profits during the three months amounted to about 187.31 million pounds at the end of March, compared to 226.23 million pounds during the same period last year.

While non-controlling interests recorded profits amounting to 3.71 million pounds during the period, compared to profits of 1.97 million pounds during the same quarter of 2022.

The company's total revenues increased during the first quarter of this year to 1.49 billion pounds, compared to 1.19 billion pounds during the comparative period of 2022.

In terms of non-consolidated lists, the independent company turned profitable during the first three months of this year, achieving 215.88 million pounds, compared to losses amounting to 19.04 million pounds during the comparative period of 2022.