January 29, 2014 / 8:02 AM / 4 years ago

Egypt's Palm Hills posts 2013 profit of $34 mln

CAIRO, Jan 29 (Reuters) - Palm Hills, Egypt’s second-biggest listed property developer, turned a profit of 236.8 million Egyptian pounds ($34 million) in 2013, the company said on Wednesday.

The luxury real estate developer made a net loss of 134.6 million pounds in the previous year, it said in a statement.

The firm struggled in 2012 after it faced investigations into previous state land sales and client cancellations after an uprising toppled president Hosni Mubarak in 2011. ($1 = 6.9618 Egyptian pounds) (Reporting by Asma Alsharif; editing by Tom Pfeiffer)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below