Iraq loses U.S. appeal over U.N. oil-for-food program suit    San Siro to host 2016 Champions League final    Egypt in massive FIFA ranking drop    Egypt's EGPC to Buy 65% Oil Imports from UAE's ADNOC    Turkey to Draw Egypt's Ire by Hosting MB    Sony Tumbles as $2.1 Billion Loss Limits Hirai's Options    15 Zamalek Ultras released from custody    Chelsea's Costa can't play every match, says Mourinho    Rodriguez starting to make Real Madrid mark    Ebola could drain billions of dollars from African economies: World Bank    Study: Artificial Sweeteners may promote diabetes    UN fact-finding committee to focus on human rights defenders: CIHRS    Proposed amendments to Prisons' Law ‘disappointing': EIPR    Apple hiring manager to handle China government data requests    Mashreq Eyes Turkey, Egypt for Acquisitions    18 Russians Injured in Egypt Tour Bus Crash    Saudi Rises On Economic Reform Plans; Better Global Mood Boosts Region    Boateng's Strike Hands Bayern Last-Gasp Win Over Manchester City    Egypt's rights lawyer Khaled Ali joins temporary hunger strike for release of 'political detainees'    Polls open in historic Scottish independence vote    April 6 Youth Members To Escalate Their Hunger Strike Against Protest Law    Second Party Pulls Out Of Egypt's Pro-Morsi Alliance    Cairo's Downtown Street Vendors Question Their New Home    Egypt's Controversial Protest Law To Be Amended Within Days    Euromoney Cinference: North coast land to be offered in February's Economic Summit: Minister of Tourism    Egyptian and foreign buying lifts Egypt blue chip stocks Wednesday    Russia, Egypt seal preliminary arms deal worth $3.5 billion: Agency    Euromoney Conference: Wadi El Nil targets EGP 2bn in sales: Company chairman    6 April members join hunger strike calling for release of detainees    Tourists killed in Beni Suef collision    Court sentences 15 Azhar students to 4 years    Art Alert: Cinema and censorship seminar at AUC    Final verdict against Nassef Sawiris tax dispute due in October: OCI NV    Prosecution releases 116 Protest Law detainees    'Cabinet clashes' trial of Douma and 268 others resumes    Australian Companies Urged to Invest in Egypt As It Rebuilds After the Revolution    Rihanna, CBS Bench Opening Number For Thursday Football    Niki De Saint Phalle Shoots To Kill At Paris Retrospective    Islamic State goes underground in Syrian stronghold    6 policemen killed by roadside bomb in Sinai: MOI    George Clooney To Receive Golden Globes' Cecil B. Demille Award    China detains famed film director for "prostitution"    TRAILERS: Toronto Film Festival announces winners    Ahly Prevail On Penalties To Win Super Cup, Compounding Zamalek's Derby Woes    Egypt Court To Rule On Listing Ultras 'Terrorists', 27 Septembera    Hacking like Egyptians    Rock the Casbah: Amusing Moroccan-French film tackles societal challenges    More antiquities intended for smuggling detected, others to be returned soon: Tourism Police    







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




Your friends recommend

Palm Hills slips into H1 net loss
Published in Daily News Egypt on 21 - 08 - 2011

CAIRO: Egyptian real estate firm Palm Hills Developments, the country's second-biggest developer slipped to a 2011 first-half net loss of LE 81.4 million ($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 LE 36.2 million, compared with a year-earlier net profit of LE 107 million.
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.