12 May 2008 12:43
PALM HILLS DEVELOPMENTS COMPANY
S.A.E AND ITS SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 JANUARY 2008 TO 31 MARCH 2008
Translation of financial statements
originally issued in Arabic
REVIEW REPORT
To: The Board of Palm Hills Development Company (S.A.E.)
We have reviewed the accompanying Consolidated Financial Statements of Palm Hills Development Company (S.A.E.) represented in the Consolidated Financial Position as of 31 March 2008, and the related Consolidated statements of income, changes in shareholders’ equity and cash flows for the period from first of January 2008 till 31 March 2008 , These Consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these Consolidated financial statements based on our review.
We conducted our review in accordance with the Egyptian Standards on Auditing concerning the limited review. This standard requires that we plan and perform the review to obtain reasonable assurance about whether these Consolidated financial statements are free of material misstatement. A limited review includes implementation of the analytical procedures on the financial data and obtaining information from the Company's management, accordingly, it is limited in scope compared with the audit procedures performed under the Egyptian Standards on Auditing for the purpose of expressing an opinion on these Consolidated financial statements, accordingly we do not express such an opinion.
As per our review, we did not note any material adjustments that should be made to the Consolidated financial statements to conform with the Egyptian Accounting Standards issued in accordance with the ministerial decree 243 of 2006.
Paste the following link into your web browser to download the PDF document related to this announcement:
http://www.rns-pdf.londonstockexchange.com/rns/1861U_1-2008-5-12.pdf
Cairo : 13 April 2008
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Emad Hafez Rageb | Alaa A. Azim Mansour | Dr/ Ahmed Shawki |
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CMAR (42) | CMAR (260) | CMAR (5) |
R.A.A (3678) | R.A.A (6811) | R.A.A (4200) |
Allied for Accounting & Auditing | Mostafa Shawki | Mostafa Shawki |
E & Y | MAZARS | MAZARS |
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