Arab Finance: Palm Hills Development Company (PHDC) reported a 15.2 % year-on-year (YoY) growth in consolidated net profits after tax and non-controlling interest for the first nine months of 2023 to EGP 1.049 billion from EGP 910.86 million, as per a disclosure on November 15^th.

The company’s net operating revenues amounted to EGP 11.284 billion in the January-September period, compared to EGP 9.557 billion in the same period a year earlier.

The firm’s standalone net profit after tax hit EGP 510.841 million during the first nine months of this year, down from EGP 713.172 million in the corresponding period of 2022.

Meanwhile, standalone revenues dropped to EGP 3.786 billion from EGP 4.88 billion.

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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