Cairo – Mubasher: Palm Hills Developments reported EGP 910.86 million in consolidated net profits after tax during the first nine months (9M) of 2022, a surge from EGP 635.78 million in the same period in 2021.

Earnings per share (EPS) reached EGP 0.30 in 9M-22, compared with EGP 0.20 in 9M-21, according to a bourse disclosure on Thursday.

The company’s revenues skyrocketed to EGP 9.55 billion during the nine-month period ended 30 September 2022, compared to EGP 5.89 billion in the year-ago period.

As for the standalone business, the real estate developer achieved standalone net profits worth EGP 713.17 million in January-September 2022, a hike from EGP 337.82 million in January-September 2021.

During this year’s third quarter (Q3), the company’s earnings netted EGP 352.37 million, compared to EGP 174.15 million in Q3-21. In the meantime, EPS came in at EGP 0.11 in Q3-22, compared to EGP 0.05 in Q3-21.

Revenues during the July-September 2022 period amounted to EGP 2.61 billion, a hike from EGP 1.88 billion in the corresponding period in 2021.

During the first half (H1) of 2022, the company logged consolidated net profits after tax worth EGP 561.79 million, an annual increase of 13% from EGP 495.70 million, including minority interest.