Cairo – Mubasher: The consolidated net profits of Palm Hills Developments increased by 14.26% to EGP 856.06 million in 2021, compared to EGP 749.17 million in 2020, including minority shareholders' rights.

The company's revenues jumped by 48% year-on-year (YoY) to EGP 7.71 billion in 2021, according to a bourse filing on Tuesday.

As for the standalone businesses, the company's net profits rose to EGP 365.94 million last year, down from EGP 560.15 million in the earlier year.

Meanwhile, the company's board has recommended a cash dividend distribution of EGP 0.10 per share for 2021, aggregating at a total value of EGP 304.05 million.

It is noteworthy to mention that during the first nine months (9M) of 2021, the company achieved a net profit after tax and minority interest worth EGP 635.49 million, up 24% year-on-year (YoY) from EGP 514.54 million.