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Sunday, 5 November 2017

PHD reports 15.5% y-o-y increase in net profit for 9M2017

EARNINGS WATCH- ‘Tis the season, folks, although we expect many companies will report their 3Q earnings only after coming home from the EFG Hermes London conference. Among those now out:

  • Real estate developer Palm Hills Developments reported an increase of 15.5% y-o-y in net profit after tax for 9M2017, which came in at EGP 467 bn, compared to EGP 404.3 bn last year. New sales for the period grew by 44% y-o-y to EGP 8.1 bn.
  • Real estate developer TMG reported nine month profits of EGP 1.058 bn on Thursday, a 72% rise from last year’s profit EGP 616.39 mn, according to an EGX disclosure. Revenues came in at EGP 5.6 bn for the first nine months, up from EGP 3.9 bn in the same period last year.

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Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.