Palm Hills Development’s profits, revenues hike in H1, Q2

CAIRO – 10 August 2017: Palm Hills Developments Company’s net profits reached LE 349 million in the first half of 2017 compared to LE 169 million in the year-ago period, a Thursday statement said.

The consolidated results revealed that the company achieved LE 137 million in the second quarter of this year, up from LE 63.9 million in the same period of the previous year.

Earnings per share (EPS) stood at LE 0.151 per share compared to LE 0.073 per share in the first half of 2016, while the EPS recorded LE 0.059 per share in the Q2 of 2017, up from LE 0.024 per share in Q2 of 2016.

Total revenues leveled up to LE 3.22 billion in the first six months of 2017 from LE 2.16 billion in the same period of the previous year, while recorded LE 1.64 billion in Q2 of 2017 compared to LE 1.08 billion in Q2 of 2016.

Selling, general and administrative (SG&A) expenses stood at LE 316 million in H1 of 2017 after LE 263.7 million in H1 of 2016.

Total costs reached LE 2.28 billion in the first six months of 2017, compared to LE 1.56 billion in the year ago period.