Edison Issues Flash Note on Palm Hills Developments

May 11, 2016, 07:33 ET from Edison Investment Research

LONDON, May 11, 2016 /PRNewswire/ --

Palm Hills' (PHD) Q116 preliminary earnings release shows continued strong momentum in reservations (with full-year guidance increased) and revenues. Tax increased as anticipated (following the expiry of the tax exemption) as did minorities, both a drag on net profit. The momentum in the business seems consistent with our full-year forecasts, which are struck on an IFRS basis. We will review them when the Q1 IFRS results become available.

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