February 26, 2018 / 7:19 AM / 6 months ago

BRIEF-Egypt's Palm Hills Q4 Profit Rises

Feb 26 (Reuters) - PALM HILLS DEVELOPMENTS COMPANY :

* Q4 CONSOL NET PROFIT AFTER TAX AND MINORITY INTEREST EGP 338.6 MILLION VERSUS EGP 235.7 MILLION YEAR AGO

* Q4 CONSOL REVENUE EGP 1.85 BILLION VERSUS EGP 1.97 BILLION YEAR AGO

* AS AT END OF 2017, SALES BACKLOG EXCEEDS EGP 11.8 BILLION

* IS PLANNING TO MONETIZE RECEIVABLES UP TO C.EGP 1.8 BILLION DURING YEAR, OF WHICH EGP 700 MILLION-800 MILLION WILL BE CONCLUDED DURING Q1

* IS EYEING NEW SALES OF EGP 12 BILLION FOR THE YEAR, TO BE FUELED BY THE LAUNCH OF THE 3,000 FEDDAN PROJECT

* IN 2018, COMPANY IS TARGETING A TOP LINE OF MORE THAN EGP 6.8 BILLION

* IN 2018, COMPANY IS TARGETING NET PROFIT OF MORE THAN EGP 800 MILLION

* COMPANY IS PLANNING TO HANDOVER 1,500 UNITS AND SPEND EGP 2 BILLION ON CONSTRUCTION DURING FY 2018 Source text for Eikon: Further company coverage:

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