Palm Hills’ Net Losses Narrowed By 58.9%; FY/12

Palm Hills Developments (PHDC.CA) has announced its consolidated financial statements for the fiscal year of 2012 reporting a net loss of EGP 134 million, compared to a net loss of EGP 327 million during the FY/2011.

Meanwhile, standalone financial results for FY/2012 revealed a net loss of EGP 94.087 million, compared to EGP 268 million during FY/2011.