Cairo – Mubasher: Six of October Development and Investment (SODIC) registered 143% higher consolidated net profits after tax at EGP 953.31 million in the first quarter (Q1) of 2025.
The generated net profits were compared to EGP 392.05 million in Q1-24, according to the financial results.
Basic and diluted earnings per share (EPS) jumped to EGP 2.67 as of 31 March 2025 from EGP 1.10 a year earlier.
Total operating revenues surged by 50% year-on-year (YoY) to EGP 2.75 billion in Q1-25 from EGP 1.83 billion.
Standalone Financials
The EGX-listed group achieved standalone net profits after tax amounting to EGP 516.39 million in Q1-25, an annual leap from EGP 48.08 million.
Non-consolidated basic and diluted EPS hit EGP 1.45 in Q1-25, up YoY from EGP 0.13. Meanwhile, the total operating revenues hiked to EGP 1.43 billion from EGP 432.36 million.
SODIC delivered 148 units in Q1-25, of which 95 were in East Cairo projects, while West Cairo accounted for 53 of the delivered units. This is compared to 236 units delivered in the first three months (3M) of 2024.
Ayman Amer, General Manager of SODIC, said: “This achievement further underscores our steadfast commitment to creating sustainable value that will drive our strategic growth and future expansions. We look forward to another year of growth and record-breaking achievements."
As of 31 December 2024, SODIC posted 84% YoY higher net profit after tax and non-controlling interests at EGP 2.53 billion.
