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.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.