Egypt's Palm Hills posts Q1 profit of $37 mln
CAIRO, May 12 (Reuters) - Egypt's Palm Hills Development PHDC.CA, which began trading on Egypt's stock exchange on Thursday, posted a first quarter pretax profit of 199 million Egyptian pounds ($37 million) on Monday.
The company, a high-end Egyptian real estate developer, said it had an increasing number of contracted units with total contracts value at 930 million pounds, while consolidated net revenue for the period was 326 million pounds. ($1 = 5.36 Egyptian pounds) (Writing by Cynthia Johnston; Editing by Quentin Bryar)
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