EARNINGS WATCH- Palm Hills Developments (PHD) saw its net profit after tax fall 37% to EGP 195 mn in 2Q2020 from EGP 310 mn in the same period last year, according to its quarterly financials (pdf). Revenues fell 42% during the quarter to EGP 873 mn from EGP 1.5 bn in 2Q2019.

BdC profits fall 12% in 1H2020: Banque du Caire generated a net profit of EGP 1.7 bn during 1H2020, down 12% from EGP 1.93 bn in the same period last year, according to figures released by the bank on Monday.

Heliopolis Housing and Development Company (HHD) saw net profit decline 0.9% y-o-y during its 2019-2020 financial year to reach EGP 372.8 mn from EGP 376.4 mn the year before, according to an EGX disclosure (pdf). Disruptions caused by the covid-19 pandemic and a slowdown in consumer demand saw the company’s revenues fall 20% to EGP 1.1 bn during the year. HHD’s financial year runs from August-July.

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