Palm Hills, Egypt sees 25.9% YoY consolidated profit leap in 2023

Palm Hills is an Egypt-based company that focuses on real estate investment in new cities and urban communities

Staff Writer, Arab Finance

February 29, 2024

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Palm Hills Development Company (PHDC) reported a 25.9% year-on-year (YoY) growth in consolidated net profits after tax and non-controlling interest for 2023 to EGP 1.58 billion from EGP 1.25 billion, as per a disclosure on February 28th.

The company’s net operating revenues amounted to EGP 17.462 billion in the January-December period, compared to EGP 13.600 billion in 2022.

The firm’s standalone net profit after tax hit EGP 928.161 million last year, down from EGP 992.443 million in 2022.

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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