Egypt-based Palm Hills Developments has reported a 63% rise in fourth-quarter profit to EGP185.1m ($33.8m) from EGP113.5m in the same period a year earlier, Bloomberg has reported. Revenue rose to EGP470.8m from EGP139.5m in the last quarter of 2008, while full-year sales, however, fell 7% to EGP1.14bn 'despite a very challenging first half', the company said.
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