Palm Hills and Oriental Weavers post their 1Q 2026 earnings

Palm Hills Developments

Palm Hills Developments’ net income after tax and minority interest fell 21.7% y-o-y to EGP 1.2 bn in 1Q 2026, according to its latest earnings release (pdf). Revenues rose 11.3% y-o-y to EGP 9.3 bn, driven by strong new sales growth and the recognition of its development backlog, which swelled to a massive EGP 263 bn.

Behind the fall: Management noted that the drop in net income reflects base effects from a one-off land sale in the same quarter last year; adjusting for that, normalized net income would have actually risen 23% y-o-y.

Total new sales hit EGP 52 bn — a 58% growth over its normalized base — bolstered by East Cairo sales, which jumped to EGP 29.5 bn following the EGP 24 bn launch of Village de La Capitale.

What’s next: The developer is gearing up to launch its North Coast project, Hacienda Ras El Hekma, next month, Executive Chairman Yasseen Mansour said.

Oriental Weavers

Oriental Weavers’ net income rose 62% y-o-y to EGP 893 mn in 1Q 2026, bolstered by EGP 201 mn in export subsidy collections and EGP 328 mn in capital gains from the sale of unproductive assets, according to its latest earnings release (pdf). Meanwhile, revenue grew 9% y-o-y to EGP 6.9 bn on the back of an 8% increase in sales volumes, supported heavily by international demand, particularly from the US.

International sales accounted for 65% of the company’s top line during the quarter, despite a softer global consumer spending. The tufted export segment delivered an 18% y-o-y revenue increase on the back of higher-priced product launches in the US. Domestically, revenues from the woven segment rose 20% y-o-y on prioritizing higher-income consumers.