Cairo – Mubasher: Palm Hills Development Co. reported an increase of 185% in net profits for the fiscal year ended 31 December 2015.
The company’s net profits stood at EGP 1.1 billion in 2015, up from EGP 373.3 million in the previous year.
Meanwhile, the firm saw net profits of EGP 236.5 million for the fourth quarter of 2015.
The real estate developer stated that its top line reached EGP 3.6 billion in 2015, compared with EGP 2.11 billion in the preceding year.
In the same vein, the company’s unconsolidated net profits climbed to EGP 775.7 million in 2015, from EGP 280.9 million in 2014.
