Palm Hills posts stronger 2Q as 1H income remains down

Palm Hills Developments’ (PHD) net income after tax and minority interest rose 17% y-o-y to EGP 1.06 bn in 2Q 2026, as revenue jumped 42% to EGP 10.18 bn, according to the developer’s latest earnings release (pdf). Gross income increased 24% to EGP 3.62 bn, although the gross margin narrowed to 35.5% from 40.5% a year earlier.

The stronger quarter narrowed the 1H earnings decline. Net income after tax and minority interest fell 7% y-o-y to EGP 2.26 bn in 1H 2026, while revenue rose 25.4% to EGP 19.53 bn. Gross income inched up 3.9% to EGP 6.93 bn, with the gross margin contracting to 35.5% from 42.8%. PHD attributed the margin compression to a greater contribution from lower-margin projects and units, alongside higher construction and development costs.

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