SODIC records EGP 8.2bln in gross contracted sales driven by strong uptake of both new and ready-for-delivery projects.

 Sixth of October Development & Investment Company “SODIC” has released its consolidated financial results for the six months ended 30th of June 2023.

Operational & Financial Highlights

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  • Gross contracted sales EGP 8.17 billion, up 22% YoY
  
  
  • Cancellations 10% of gross contracted sales
  
  
  • Net Cash collections EGP 4.06 billion
  
  
  • Timely delivery of 402 units
  
  
  • Revenues EGP 2.92 billion, up 7% YoY
  
  
  • Gross profit: EGP 1.12 billion, up 22% YoY, reflecting a gross profit margin of 38%
  
  
  • Operating profit: EGP 404 million, up 4% YoY, implying an operating profit margin of 14%
  
  
  • Net profit after tax and non-controlling interests EGP 335 million, up 15% YoY, delivering a net profit margin of 11%