Cairo – Mubasher: Palm Hills Developments reported net profits of EGP 495.51 million in the first half (H1) of 2021, up by 75.6% year-on-year (YoY) from EGP 282.04 million, including minority shareholders' rights.
The property developer's net revenues jumped to EGP 4.01 billion in the six-month period ended 30 June from EGP 2.01 billion in the year-ago period, according to a bourse disclosure on Wednesday.
As for standalone business, the company logged EGP 96.24 million in net profits in H1-21, down from EGP 227.22 million in H1-20.
During the first quarter (Q1) of 2021, Palm Hills Developments recorded net profits after tax and minority interest of EGP 204.62 million, up from EGP 81.26 million in Q1-20.
