Cairo – Mubasher: Six of October Development and Investment (SODIC) generated higher consolidated net profits after tax at EGP 941.67 million in the first nine months (9M) of 2024.
The recorded net profits were compared with EGP 557.05 million in 9M-23, according to the financial results.
Sales hit EGP 4.73 billion as of 30 September 2024, up year-on-year (YoY) from EGP 4.12 billion. The basic and diluted earnings per share (EPS) grew to EGP 2.62 in 9M-24 from EGP 1.54 in 9M-23.
Standalone Results
Non-consolidated net profit after tax reached EGP 156.77 million in the January-September 2024 period, marking an annual plunge from EGP 241.74 million.
SODIC’s EPS fell to EGP 0.44 in 9M-24 from EGP 0.68 in 9M-23, while the total sales declined to EGP 2.47 from EGP 3.04 billion.
Financials for Q3-24
In the third quarter (Q3) of 2024, the EGX-listed firm generated an annual surge in consolidated net profit to EGP 312.10 million, versus EGP 215.34 million.
During the three-month period that ended on 30 September 2024, the sales hiked to EGP 1.78 billion from EGP 1.73 billion in Q3-23, while the basic and diluted EPS jumped to EGP 0.87 from EGP 0.60.
As for the standalone results, the company’s net profits after tax hit EGP 110.89 million in Q3-24, higher than EGP 95.16 million a year earlier. The sales retreated to EGP 818.75 million from EGP 1.04 billion.
During the first half (H1) of 2024, the consolidated net profits of SODIC reached EGP 629.56 million, while the standalone net profits amounted to EGP 45.88 million.
