Cairo – Mubasher: Talaat Moustafa Group Holding’s (TMG Holding) adjusted financial statements showed an increase of 7.4% in consolidated profits for the fiscal year 2016 to EGP 828.9 million, versus EGP 771.4 million for FY15.
Adjusted consolidated profits for the fourth quarter of FY16 amounted to EGP 208.7 million, 21.5% down from EGP 265.9 million for Q4-15, according to a bourse filing.
Standalone profits for FY16 declined 12% to EGP 277.6 million, compared to EGP 315.4 million for FY15.
The company’s board recommended distributing cash dividends of 14.5 piasters per share for the year, totalling EGP 300 million.
The company’s unaudited financial statements earlier showed a rise of 8.4% in consolidated profits for FY16 to EGP 826.5 million from EGP 762.3 million for FY15.
