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FINANCIAL NEWS
Egypt’s SODIC registers 21 percent grow in net profit
17 Mar 2016
(MENAFN) Sixth of Oct Development & Investment Co. (SODIC) recorded a growth of 21 percent in its net profit to reach USD 34.69mn.
Furthermore, the firm logged revenues of USD 0.16bn and its gross income margin amounted to 41 percent, 600bps higher compared to 2014.
Additionally, the year had a positive net cash balance, with a whole cash of USD 0.22bn and USD 0.13bn, while sales reached USD 0.7bn.
Moreover, 2015 viewed a strong sales momentum through all projects with net contracted sales reaching USD 0.49bn, 43 percent growth.
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