Cairo – Mubasher: The consolidated net profits after tax and minority interest of Palm Hills Developments Company hiked by 43% to EGP 2.44 billion in the first half (H1) of 2025 from EGP 1.70 billion in H1-24.

Earnings per share (EPS) amounted to EGP 0.84 at the end of June 2025, up year-on-year (YoY) from EGP 0.57, according to the financial results.

The revenues jumped by 42.40% to EGP 15.57 billion in H1-25 from EGP 10.93 billion a year earlier.

New sales soared by 118% YoY to EGP143 billion in January-June 2025, backed by high demand for existing inventory. The company’s backlog of units sold and not yet delivered reached EGP 203 billion, compared to EGP 80 billion in H1-24.

Standalone Results

The group turned to standalone net losses worth EGP 753.36 million in the first six months (6M) of 2025, against net profits valued at EGP 501.03 million in H1-24.

Non-consolidated loss per share hit EGP 0.26 in H1-25, versus a profit per share of EGP 0.17 a year earlier. Meanwhile, the revenues fell to EGP 1.82 billion from EGP 4.18 billion.

Financials for Q2

In the second quarter (Q2) of 2025, the net profits after tax and minority interest jumped by 28.80% to EGP 903 million from EGP 702 million in Q2-24.

The consolidated revenues enlarged by 52.60% YoY to EGP 7.18 billion in April-June 2025 from EGP 4.70 billion.

Yasseen Mansour, Executive Chairman of Palm Hills, said: “Palm Hills achieved its highest-ever first-half new sales in 2025, reaching EGP 143 billion compared to EGP 65.60 billion in H1-24, growing 2.2xs year-on-year.”

“The company delivered another solid set of financial results, ending the first half with top and bottom lines of EGP 15.60 billion and EGP 2.40 billion, growing by 42% and 44% respectively over last year,” Mansour added.

He noted:  “Our confirmed regional expansion is fully underway and targeting to launch Abu Dhabi project-which is expected to generate EGP 300 billion in sales-before year-end or first quarter next year.”