Sodic swings to $20m H1 net loss
Cairo, September 7, 2011
Egypt's third-biggest listed developer Sodic posted a first-half net loss of 120 million Egyptian pounds ($20 million), the stock exchange said on Wednesday.
The real estate firm, which does not fully recognise revenues until it delivers units, made a first-half net profit of 50.7 million pounds last year.
The stock exchange did not provide further details. – Reuters