Earnings Watch: SODIC reports 44% y-o-y net profit growth in 3Q2018

EARNINGS WATCH- SODIC reported 44% y-o-y growth in its bottom line to EGP 238 mn in 3Q2018 with a strong net profit margin of 26%, the company said in its earnings release (pdf). Revenues reached EGP 909 mn for the quarter, marking a 56% increase y-o-y, driven by “deliveries in Caesar and Villette that contributed to 42% of the delivered value during the quarter.” Net contracted sales were up 20% y-o-y, coming in at EGP 1.3 bn.