TMG sales exceed expectations in 2017

CAIRO – 8 January 2018: Real estate developer Talaat Moustafa Group Holding (TMG) achieved LE 13.11 billion in net sales in 2017, the company announced Monday.

Sales of 2017 exceeded expectations in the initial budget that was set at LE 11.4 billion, then put at LE 13 billion in a TMG November report.

In a report to the Egyptian Exchange, TMG said that sales between the beginning of July and the end of November stood at LE 7.1 billion, which is the highest level recorded since 2008.

Between January and the end of June, TMG registered LE 4.91 billion in net sales.

TMG achieved a 72-percent leap in net profit in nine months, registering LE 1.06 billion ($60 million). The company said that the figure is compared to LE 616.4 million posted in the first nine months of 2016.