Cairo: Six of October Development and Investment (SODIC) logged net profit after tax and non-controlling interests valued at EGP 2.53 billion in 2024, marking an 84% year-on-year (YoY) leap.

The company sold 1,270 units, generating gross contracted sales of EGP 50.30 billion, according to the financial indicators.

Net cash collections hit EGP 15 billion in the January-December 2024 period, compared to EGP 11 billion in 2023.

Revenues amounted to EGP 9.75 billion in 2024, compared to EGP 10.33 billion a year earlier.

Ayman Amer, SODIC’s General Manager, said: “Our record-breaking gross contracted sales of EGP 50.30 billion, reflecting a 66% YoY increase, were driven by strong demand for our newly launched North Coast project, Ogami, which contributed to c. EGP 24.50 billion in total sales, while net profit increased by 84% YoY, recording EGP 2.53 billion.”

In the first nine months (9M) of 2024, SODIC posted an annual hike in consolidated net profit after tax to EGP 941.67 million, compared with EGP 557.05 million.

 

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