Palm Hills’ profits hit LE141.16M in Q1 2019

CAIRO – 11 June 2019: Consolidated results of Palm Hills Development Co. SAE (PHDC) revealed that it recorded a 37.02 percent decrease in profits during the first quarter of 2019 on a year on year basis, reaching LE 141.161 million, compared to LE 224.151 million during the same quarter of 2018.

The indicators also showed that revenues declined to LE 958.082 million, down from LE 1.46 billion during the compared quarter.

As per standalone results, the company’s profit dropped 35.48 percent to LE 26.481 million, compared to LE 41.272 million during 2018’s first quarter.

In 2018, the company accomplished profits of LE 906.86 million, compared to LE 936.47 million in 2017 including minority rights.

Palm Hills operates within the Real Estate sector focusing on Real Estate Development. It has subsidiaries operating across United Kingdom, Singapore, Egypt and Saudi Arabia.