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Palm Hills narrows 2012 net loss
- Egypt: Sunday, March 17 - 2013 at 07:28
Egypt's second biggest real estate developer, Palm Hills Development, has said it has narrowed its net loss in 2012 by 59% to EGP134.6m (around $20m) compared with EGP327m (roughly $48.2m) in the previous year, Ahram has reported. However, Palm Hills' revenues fell 30% year-on-year in 2012 to EGP392m (about $58m), due to delayed apartment deliveries and poor land sales, according to Beltone Financial.
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