Egypt’s Palm Hills posts 2015 Q4 profit of $26 million
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CAIRO: Palm Hills, Egypt’s second-largest listed property developer, reported on Sunday a rise in fourth-quarter net profits to 203.5 million Egyptian pounds ($25.99 million) from 89.2 million pounds in the same period last year.

The company posted a net profit of 1.03 billion pounds for the 2015 full year, up from 353.3 million pounds in 2014.

Its board of directors proposed a cash dividend of 0.15 pounds per share and bonus shares issuance of one bonus share for each 20 shares held, the company said in a statement.

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