ArabFinance: Sixth of October Development and Investment Company (SODIC) (OCDI) reported a 31.1% year-on-year (YoY) increase in consolidated profit attributable to the parent company during the first half (H1) of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.

The company’s consolidated profit excluding minority interest grew to EGP 291.73 million in H1 2022 from EGP 222.59 million in H1 2021.

Consolidated operating revenue soared to EGP 2.472 billion from January until the end of June from EGP 1.669 billion in the same period a year earlier.

Meanwhile, SODIC’s standalone loss after tax deepened to EGP 118.657 million in the January-June period from EGP 84.733 million the year before.

It is worth noting that the company’s consolidated net profit excluding minority interest stood at EGP 226.23 million in Q1 2022, compared to a profit of EGP 100.46 million in the same quarter of 2021.

Established in 1996, SODIC is a mixed-use developer listed on the EGX, with a portfolio of diversified projects across Egypt, particularly in Cairo and the North Coast.

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