Palm Hills Developments (PHD) announces a net profit of EGP 224 mn during the first quarter of 2018, Invest-Gate reports.

The gross profit margin has reached 37% in Q1-18, up from 31% in Q1-17, with an increase in its net profit margin that reached 15% up from 13% last year, according to a statement released by PHD on Tuesday, May 15.

While the EBITDA margin, the company’s earnings before interest, taxes, depreciation, and amortization, recorded 26% in Q-18, a strong growth from 20% recorded during the same period last year.

“This quarter demonstrated healthy growth in profitability margins across the board as we continue to focus on improving our ROE. Profitability margins witnessed remarkable improvements across the board,” PHD’s Chairman Yasseen Mansour was quoted as saying in the statement.