{"id":642642,"date":"2017-08-20T03:57:22","date_gmt":"2017-08-20T03:57:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/20\/earnings-watch-sodic\/"},"modified":"2017-08-20T03:57:22","modified_gmt":"2017-08-20T03:57:22","slug":"earnings-watch-sodic","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/20\/earnings-watch-sodic\/","title":{"rendered":"Earnings watch: SODIC"},"content":{"rendered":"

EARNINGS<\/strong> WATCH- <\/strong>Our friends at SODIC <\/strong>reported a 130% y-o-y increase<\/strong><\/a> in <\/strong>consolidated net profit to EGP 340 mn in 1H2017<\/strong>. Revenues increased by 88% y-o-y to EGP 1.173 bn. The surge in revenues was driven by a 103% y-o-y rise in deliveries in 1H2017. \u201cNet contracted sales for the six months stood at EGP 2 [bn], up 7% [y-o-y] and on track to achieving our target for the year of EGP 5.6 [bn],\u201d the statement read. Managing Director Magued Sherif said, \u201cSODIC today is reaping the benefits of our land bank expansion strategy that began in 2014, delivering solid year on year growth and record levels of revenues and earnings<\/strong>.\u201d Sherif said strong sales momentum continued in the second quarter with the high-end apartment offering Sky Condos in Villette. \u201cThe launch was met with strong demand for this differentiated product,\u201d he said. SODIC East will be launched in 2H2017 and the company will begin its revenue share development in New Heliopolis. Sherif also confirmed the company\u2019s guidance for the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Our friends at SODIC reported a 130% y-o-y increase in consolidated net profit to EGP 340 mn in 1H2017. Revenues increased by 88% y-o-y to EGP 1.173 bn. The surge in revenues was driven by a 103% y-o-y rise in deliveries in 1H2017. \u201cNet contracted sales for the six months stood at EGP […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-642642","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"9e279916-db04-4585-bf6a-282eb50719d5","order":"0","is_powered_by":true,"section_story_id":"16ec267d-41b7-41b4-87ba-409188d26b0f","story_type":"1","photo_url":"","photo_position":"above","related_issue":[642626],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: SODIC - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/20\/earnings-watch-sodic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: SODIC\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Our friends at SODIC reported a 130% y-o-y increase in consolidated net profit to EGP 340 mn in 1H2017. 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Revenues for the quarter doubled y-o-y to EGP 1 bn as net contracted\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555529,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/earnings-watch-sodic-idh-palm-hills-mm-group-vodafone-egypt\/","url_meta":{"origin":642642,"position":2},"title":"Earnings Watch: SODIC, IDH, Palm Hills, MM Group, Vodafone Egypt","author":"enterpriseam admin","date":"17 November 2021","format":false,"excerpt":"Upmarket real estate developer SODIC saw a 75% drop in net income during 3Q2021 as revenues declined due to timing differences in deliveries compared to the same period last year, according to its quarterly earningsrelease (pdf). 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