03‏/05‏/2025

Palm Hills Development profits rise to 639 million pounds during the first half of 2023

The consolidated financial statements of Palm Hills Development Company revealed, during the first half of this year, that the company's profits increased by 14%, on an annual basis.

The company stated, in a statement to the Stock Exchange, that it achieved a net profit of 638.82 million pounds during the period from January to the end of June 2023, compared to 561.79 million pounds in profits during the same period last year, taking into account minority rights.

Activity revenues during the first six months of this year amounted to about 6.91 billion pounds, compared to 6.94 billion pounds during the same period of 2022.

On the level of unconsolidated business, the profits of the independent company declined during the first half of this year to 371.83 million pounds, compared to profits of 551.14 million pounds during the same period of 2022.

And Palm Hills Development achieved a net profit of 256.52 million pounds during the period from January to the end of March 2023, compared to profits amounting to 305.8 million pounds in the comparative period of 2022, taking into account minority rights.

The company's sales increased during the first quarter of this year to 3.52 billion pounds, compared to sales of 2.9 billion pounds in the comparative quarter of 2022.