Palm Hills records 43.3% YoY higher consolidated profit in 9 months

real estate - November 12, 2022

Arab Finance: Palm Hills Development Company's (PHDC) posted a 43.26% year-on-year (YoY) surge in consolidated profit excluding taxes and minority interests during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on November 10th.

The company’s consolidated profit jumped to EGP 910.86 million in the nine-month period ended September 30th from EGP 635.784 million in the same period a year earlier.

Consolidated net operating revenue soared to EGP 9.557 billion in January-September from EGP 5.893 billion in the same nine-month period of 2022.

Furthermore, the standalone net profit after tax to EGP 713.172 million in the period from January 1st to September 30th from EGP 337.826 million in the same period last year.

Palm Hills is an Egypt-based company that focuses on real estate investment in new cities and urban communities, land reclamation and cultivation, and other activities associated with the company’s operations.

arabfinance



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