SODIC shares rose 5.79% to the highest price in 30 days

The shares of the Sixth of October Development and Investment Company (SODIC), listed on the Egyptian Stock Exchange, rose by 5.79% during Wednesday’s trading session, trading at 64.53 pounds per share, the highest price in a month.

At that time, 1.96 million shares of the company were traded, with a trading value of 125.8 million pounds.

The highest price per share at that time was 65.30 pounds, while the lowest price per share was 61.49 pounds.

In another context, the consolidated financial statements of Sixth of October Development and Investment Company (SODIC) revealed a noticeable growth in its profits during the first nine months of last year, recording an increase of 69% compared to the same period of the previous year.

The company explained in its disclosure to the Egyptian Stock Exchange today that it achieved net profits amounting to 941.67 million pounds in the period from January to September 2024, compared to 557.05 million pounds in the corresponding period of the previous year, after calculating the rights of minority shareholders.

The company’s revenues also witnessed a significant jump during the first nine months of last year, reaching 6.28 billion pounds, compared to 4.97 billion pounds in the corresponding period of the previous year.

On the other hand, the company’s profits at the level of individual, non-consolidated businesses decreased to 156.77 million pounds during the first nine months of 2024, compared to 241.74 million pounds in the same period of the previous year.

Sixth of October Development and Investment Company (SODIC) is one of the public companies listed on the Egyptian Stock Exchange since March 1998, and operates mainly in the real estate sector, with a special focus on developing real estate projects.