Sunday, April 11, 2021

“Palm Hills” won 717.8 million pounds during 2020

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The profits of the “Palm Hills Development” company decreased by 18.5% during the past year to reach 717.8 million pounds, compared to a net profit of 846.8 million pounds during the previous year 2019, taking into account the rights of the minority shareholders.

The company’s revenues decreased during the past year 2020 to reach 5.2 billion pounds, compared to total sales of 6.22 billion pounds in the previous year.

The total profit decreased to 2.01 billion pounds during the same period, compared to 6.22 billion pounds in the same period in 2019.

The basic share of profits per share was 0.233 pounds, compared to 0.275 pounds in 2019.

The consolidated financial statements of Palm Hills Development showed that its profits grew by 104.4% during the third quarter of 2020, to reach 254.4 million pounds, compared to a net profit of 124.5 million pounds during the third quarter of 2019, taking into account the rights of the minority shareholders.

The company’s sales increased during the third quarter of this year to reach 1.5 billion pounds, compared to total revenues of 1.1 billion pounds during the third quarter of last year.

The total profit of the activity during the same period rose to 569.5 million pounds, compared to 437.3 million pounds in the same period.

Activity costs during the three months ending last September recorded a sum of 964.5 million pounds, compared to 659.3 million pounds in the comparative period.

The profit per share was 0.077 pounds, compared to 0.030 pounds in the same period.

The article “Palm Hills” profitable 717.8 million pounds during 2020 was written in Al-Borsa newspaper.

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