Egyptian real estate developer Sixth of October Development and Investment Company (SODIC) reported consolidated net profit attributable to shareholders of EGP 1.29 billion for the quarter, according to a company statement cited by Reuters on Monday.
The company reported total revenue from operations of EGP 10.82 billion for the quarter, reflecting its financial performance during the reporting period.
SODIC also recorded gross contracted sales of EGP 42.4 billion in the first nine months of the year, highlighting the scale of its property sales activity.
Cash collections from contracted sales reached EGP 16.9 billion over the same nine-month period, providing an indication of the company's progress in collecting payments from property buyers.
The figures offer a snapshot of the company's quarterly profitability, operating revenue and sales performance amid developments in Egypt's real estate market.
Source: Reuters
