Egypt's SODIC doubles first-quarter profit

Egypt's third-largest listed property developer SODIC reported first-quarter net profit of 79.31 million Egyptian pounds ($10.39 million), nearly double the 40.33 million it earned in the same period last year.

SODIC, also known as Sixth of October Development and Investment, also said on Sunday that first-quarter revenue dipped to 283.85 million pounds from 301.2 million a year earlier.