Bloomberg News

Sodic Heads for Biggest Gain in 3 Months After Declaring Sales

October 16, 2011

Oct. 16 (Bloomberg) -- Six of October Development & Investment Co., an Egyptian luxury property developer, headed for the biggest daily gain in more than three months after announcing sales for the first nine-months of the year.

Shares of the Cairo-based company also known as Sodic jumped 6 percent to 13.9 Egyptian pounds at 1:21 p.m. in Cairo, poised for the biggest daily gain since July 13. The benchmark EGX 30 Index advanced 1.5 percent.

Sales reached 570 million Egyptian pounds ($95.5 million) in the first nine-months of the year, Sodic said in a filing to the Egyptian bourse today.

--Editors: Inal Ersan, Shaji Mathew

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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