Egypt: Palm Hills sees 105.81% YoY consolidated profit leap in 2024
Egypt - Palm Hills Development Company (PHDC) reported a 105.81% year-on-year (YoY) growth in consolidated net profits after tax and non-controlling interest for 2024 to EGP 3.254 billion from EGP 1.581 billion, as per a disclosure on March 6th.
The company's net operating revenues amounted to EGP 27.167 billion in the January-December period, compared to EGP 17.462 billion in 2023.
The firm's standalone net profit after tax hit EGP 261.522 million last year, down from EGP 928.161 million in 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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