The shares of Palm Hills for reconstruction and traded on the Egypt Stock Exchange increased by 0.62% at the beginning of trading today, Thursday, to circulate at the price of 6.54 pounds per share, after the issuance of the financial statements.
The trading on Palm Hills shares at that time came through 1.34 million shares with a value of trading 8.74 million pounds.
The highest price for the share at that time was at 6.58 pounds per share, while the lowest price per share was at 6.52 pounds per share.
The share of Palm Hills Development Company has witnessed a remarkable increase after the company’s financial statements announced last year, as it recorded 96.34% growth on an annual basis.
The company reported that it achieved profits of 3.4 billion pounds in 2024, compared to 1.73 billion pounds in 2023, taking into account the rights of the minority.
The company’s revenues increased during the past year to 27.16 billion pounds, compared to 17.46 billion pounds in the previous year.
As for the level of unacceptable business, the profits of the independent company decreased to 261.52 million pounds in 2024, compared to 928.16 million pounds in 2023.
It should be noted that Palm Hills Reconstruction achieved profits of 2.35 billion pounds during the period from January to September 2024, compared to 1.04 billion pounds in the same period from 2023, taking into account the minority rights.
The company’s revenues in the first nine months of this year witnessed an increase to 17.96 billion pounds, compared to 11.28 billion pounds in the same period last year.
On the unaccomitable business level, the profits of the independent company decreased to 208.3 million pounds during the period from January to September 2024, compared to 510.84 million pounds in the comparative period from 2023.
