VIDEO: Zamalek grab injury-time win to end drought    Iraqi security forces, Kurds, gain ground against Islamic State    Sanchez brace helps Arsenal to beat Sunderland at EPL    Government jeopardising EGPC finances: Petroleum ministry source    Investment ministry in EGP32bn asset-debt swap with National Bank of Egypt, Banque Misr    Banking deposits grow 20.2% in July: IDSC    Borussia Dortmund's Bundesliga crisis deepens    PHOTO GALLERY: Military funeral for the 31 Egyptian soldiers killed in Sinai    Child dead, 6 injured in Matariya clashes    3-month state of emergency imposed on North Sinai    Rafah crossing closed indefinitely after deadly Sinai attacks    Iran executes woman for killing of alleged sexual attacker    Palestinian-American shot dead in the West Bank    Tanweer Initiative Provides over 2500 Fresh Jobs in ICT Sector    EU allocates €4.7m for mine clearance in Egypt    Sisi says foreign hands behind Friday Sinai attack; vows action    BREAKING: Egyptian Policeman Injured in North Sinai Shooting Saturday Morning    Egypt Stocks Gain EGP9.3bn in Week on Moody's Rating Upgrade    USAID Tamped down Internal Criticism over Egypt Work: Report    Egypt Imposes three-month State of Emergency in Sinai after Deadly Attack    Real Madrid v Barcelona (Spain's La Liga 'Clasico'): LIVE    Coal Mine Accident In Far West China Kills 16: Xinhua    Global Shares Post Best Week Since Mid-2013 After Earnings Boost    Egypt's Detained Minors: A Hardship Untold    Brazil Presidential Campaign Ends In Slugfest Over Corruption    Two U.S. States To Quarantine Health Workers Returning From Ebola Zones    Tunisians skeptical on eve of historic election    Katy Perry Cancels 30th Birthday Bash in Egypt amid "Safety Concerns"    UK rejects 'appalling' EU demand for more money    WHO expects around 200,000 Ebola vaccine doses by mid-2015    Syrian Kurd leader sees war of "attrition" in Kobani    Al-Azhar students, faculty to be expelled for protests: Presidential decree    Lebanon's Marcel Khalife honoured at Al-Ahram: VIDEO    Egypt regulator pins bond market hopes on central bank    Palestine's Mohamed Assaf wins 'Best Middle East Act' at MTV EMA    Ajnad Misr claims responsibility for university blast    Egypt up 23 places in FIFA ranking    Some U.S. Hospitals Weigh Withholding Care To Ebola Patients    'Universities are for learning not throwing Molotov cocktails': Egypt PM    "Collective Panic" Not "Rotten Milk" May Have Rushed Suez Students To Hospital: Health Ministry Source    Egypt's police to train African security personnel    Trayvon Martin inspires gallery display in Zamalek    Royal Museum of Jewellery reopens for first time since 25 January Revolution    Seven-Goal Bayern Tear Sorry Roma Apart In Champions League    Art Alert: Kremer to play on Stradivari violin in Egypt    Tanta receives 3 million visitors participating in Moulid Al-Sayed Al-Badawy festival    Italy-Egypt Partnership Growing, From Culture To Business    VIDEO: Egypt overcome stubborn Botswana again    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.




Your friends recommend

Egypt's Palm Hills posts H1 net loss
The bluechip developer was hard hit by widening graft probes that have frozen sales and increased cancellations
Published in Ahram Online on 21 - 08 - 2011

Egyptian real estate firm Palm Hills Developments , the country's second-biggest developer slipped to a 2011 first-half net loss of 81.4 million Egyptian pounds ($13.6 million), the stock exchange said on Sunday.
The firm, hard hit by an uprising that toppled President Hosni Mubarak and widening graft probes that have frozen sales and increased cancellations, reported a 191.4 million net profit in the first half of 2010, the note said, without providing further details.
Palm Hills had reported a first-quarter net loss of 36.2 million Egyptian pounds, compared with a year-earlier net profit of 107 million pounds.
Palm Hills is among several real estate firms facing legal challenges contesting its land bank.
Its Chairman Yasseen Mansour was among several businessman who were facing corruption charges. Mansour and the former housing minister Ahmed el-Maghrabi were cleared of corruption charges in a state land sale last month.
But although Mansour was cleared of criminal charges, the company is awaiting a verdict by another court on whether the contract for one of its land plots will be scrapped. That court is due to hear the case on Oct. 4.
The firm is facing court cases contesting the legality of two of its land plots and has said it would return at least two other plots of land to help manage cash flows.


Clic here to read the story from its source.