Palm Hills reports 9% increase in quarterly income
17/05/2014 3:09 am EDT

share with your network:

Egypt’s second-biggest property developer, Palm Hills has reported a 9% increase in first-quarter net profit to EGP49.7m ($7m), Reuters has reported. Palm Hills turned to profitability in 2013, as the luxury real estate developer made a net loss of EGP134.6m in the year before, it said. Earlier this month, US private equity firm Ripplewood said it had acquired a 2.3% stake in Palm Hills, adding that it hoped to increase its stake.

About the Author

share with your network:

Share your view

© 1996-2015 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2015 Dubai Business | Ameinfo . All rights Reserved.