Friday 25 July 2014

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

Tags: Cairo | Sodic | loss | First-half |

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