Palm Hills Development Company (PHDC) achieves a net profit after tax and minority interest of EGP 911 mn in the first nine months of 2022, up 43% YoY, Invest-Gate reports.
Revenue surged 62% YoY to EGP 9.5 bn in 9 months to September 30th, while the gross profit soared 54% YoY to EGP 3.2 bn in the same period.
Sales grew 36% YoY to EGP 17.5 bn in January-September, while units sold hiked 18% YoY to 2,914 units.
New sales at Badya jumped 109% YoY to EGP 4.2 bn in the first nine months of the year, while sales at Palm Hills New Cairo surge 99% YoY to EGP 3.3 bn,
The company’s residential and commercial units ready for delivery reached 1,324 in the nine-month period that ended on September 30th.
“I am pleased to share with you our operational and financial results for the period ended September 30, 2022 where we have delivered a credible and sound set of results, surpassing pre-COVID 19 performance levels and exceeding our targets and guidance for 2022 on almost all fronts,” Yasseen Mansour, Palm Hills’ Executive Chairman, comments.
