Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) said Thursday that its consolidated profits for the fourth quarter of fiscal year 2016 declined 19.7% to EGP 206.3 million, compared to EGP 256.8 million for Q4-15.
Consolidated profits for fiscal year 2016 amounted to EGP 826.5 million, 8.4% up from EGP 762.3 million for FY15, according to a bourse filing.
Consolidated revenues increased in 2016 by 6% to EGP 6.5 billion from EGP 6.18 billion for 2015.
Standalone profits for 2016 decreased 12% to EGP 277.6 million from EGP 315.4 million.
Consolidated foreign exchange earnings reached EGP 39 million, while standalone foreign exchange profits amounted to EGP 26 million.
The company’s board recommended the distribution of cash dividends of 14.5 piasters per share for the year which ended on 31 December 2016, totalling EGP 300 million.
