ArabFinance: Consolidated net profit Palm Hills Developments (PHD) surged 152% Year on Year (YoY) during the first quarter (Q1) of 2021, the company said in a statement to the Egyptian Exchange.
Consolidated net profit recorded EGP 204.62 million in Q1 2021, compared to EGP 81.26 million in Q1 2020.
The companys standalone net profit reached EGP 90.72 million in Q1 2021, compared to EGP 72.45 million in the same period last year.
In 2020, the real estate developers consolidated net profit registered EGP 717.76 million.
PHD is an Egypt-based company that focuses on real estate investment in the new cities and urban communities, land reclamation and cultivation, and other activities associated with the Companys operations.
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