Talaat Moustafa hits profits of LE1.37B in 9 months


Sun, 17 Nov 2019 - 01:49 GMT

FILE - Real estate

FILE - Real estate

CAIRO – 17 November 2019: Talaat Moustafa Group Holding (TMG Holding) announced the hike of its consolidated profits by 9.9 percent during the first nine months of 2019, recording LE 1.37 billion, compared to LE 1.24 billion, including minority rights, in the same months of 2018.

The financial indicators showed that its revenues increased during the period of 2019 to reach LE 5.1 billion, compared to LE 4.74 billion in the same period of the prior year.

As per standalone results, the company accomplished profits of LE 71.26 million, compared to LE 22.7 million during the comparable period of the previous year.

During the first quarter of 2019, TMG Holding announced making a profit increase of 10.01 percent, to record LE 374.7 million, compared to LE 340.6 million during the same quarter of 2018.

In 2018, the company reached profits of LE 1.77 billion, compared to LE 1.32 billion in 2017, including minority shareholders’ rights.

Talaat Moustafa Group Holding is a public company listed on the Egyptian Exchange (EGX) since November 2007.

TMG Holding operates within the real estate sector focusing on real estate development. It has 13 subsidiaries operating across Egypt.

The company’s capital is LE 20.63 billion that are dividend on 2.06 billion shares with a nominal value of LE 10 per share.



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