Palm Hills sees 124.2% YoY consolidated profit increase in 9 months
Updated 11/17/2024 9:56:00 AM
Arab Finance: Palm Hills Development Company (PHDC) reported a 124.2% year-on-year (YoY) growth in consolidated net profits after tax and non-controlling interest for the first nine months of 2024 to EGP 2.352 billion from EGP 1.049 million, as per a disclosure on November 17th.
The company’s net operating revenues amounted to EGP 17.964 billion in the January-September period, compared to EGP 11.284 billion in the same period a year earlier.
The firm’s standalone net profit after tax hit EGP 208.307 million during the first nine months of this year, down from EGP 510.841 million in the corresponding period of 2023.
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.
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