Cairo – Mubasher: Palm Hills Development Co on Monday reported a 19% year-on-year rise in 2017 consolidated profits due to a growth in revenues.
Net profit amounted to EGP 936.4 million last year, compared to EGP 785.25 million in 2016, the Egyptian real estate company said in a filing to the Egyptian Exchange (EGX).
Revenues grew to EGP 6.6 billion in 2017, versus EGP 5.6 billion a year earlier.
Standalone profits fell to EGP 243.11 million last year from EGP 295.8 million.
Given that Palm Hills’ consolidated profits stood at EGP 466.9 million in the first nine months of 2017, up from EGP 404.3 million in the corresponding period of 2016.
