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BRIEF-Egypt's Palm Hills Developments Q3 profit falls
November 2, 2017 / 7:24 AM / a month ago

BRIEF-Egypt's Palm Hills Developments Q3 profit falls

Nov 2 (Reuters) - PALM HILLS DEVELOPMENTS COMPANY SAE :

* Q3 NET PROFIT AFTER TAX AND MINORITY INTEREST EGP 118 MILLION VERSUS EGP 235 MILLION YEAR AGO

* Q3 REVENUE EGP 1.53 BILLION VERSUS EGP 1.49 BILLION YEAR AGO

* NEW SALES FOR NINE MONTHS 2017 REACHED EGP 8.1 BILLION, GROWTH OF 44 PERCENT YOY

* NINE-MONTH CASH INFLOW FROM OPERATIONS RECORDED EGP 3.5 BILLION, A GROWTH OF 65 PERCENT YOY

* NINE-MONTH CONSTRUCTION EARNED VALUE STOOD AT EGP 1.7 BILLION

* Q3 NET PROFIT HIT BY INCREASE IN LAND LIABILITIES, MINORITY INTEREST, INTEREST CHARGES AND EGP 25 MILLION ONE OFF HIT FROM DISCOUNTING OF RECEIVABLES

* DESPITE FLOATATION OF EGYPTIAN POUND AND RESULTING INFLATION, CO STILL EXPECTS SALES GROWTH DURING REST OF FY 2017 Source: (bit.ly/2xM4akB) Further company coverage:

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