Palm Hills profits surge to EGP 439 mln in H1

Egyptian Palm Hills Developments’ first-half profits increased to 439.9 million Egyptian pounds ($24.6 million) from 349.3 million last year, its financial statements showed on Wednesday.

The second largest listed real estate developer in Egypt is targeting new sales worth 12 billion pounds alongside profits and revenues amounting to 800 million pounds and 6.8 billion pounds, respectively for the current year.

Revenues rose to 3.37 billion pounds during the first half of the year, against 3.22 billion pounds during the same period in 2017.