Palm Hills Development Co. posted on Sunday its consolidated financial statements for H1-14, which mirrored a decline by 6.3% in net profit to EGP 146.7 million, from EGP 156.5 million in the same period a year earlier.
Meanwhile, the property developer’s standalone financial results for the same period showed EGP 127.6 million net profit, compared with EGP 2.1 million net profit in H1-13.
FY13 financial results had mirrored EGP 236.83 million net profit, against EGP 134.63 million net loss in FY12.