Egypt’s Palm Hills Developments Q3 profits fall to 118 mln pounds

Palm Hills, Egypt’s second largest listed real estate developer, said Thursday its third-quarter net profits dropped to 118 million Egyptian pounds ($6.7 million), according to a bourse filling.

Earlier, profits stood at 235 million pounds during the third quarter of 2016.

Revenues jumped to 1.53 billion pounds from 1.49 billion pounds last year.