Cairo – Mubasher: The financial indicators of Talaat Moustafa Group Holding (TMG) on Thursday showed a 72% year-on-year hike in consolidated profits for the first nine months of 2017 due to higher revenues.
Net profits amounted to EGP 1.058 billion in the nine-month period ended September, versus EGP 616.39 million in the prior-year period, the firm highlighted in a filing to the Egyptian Exchange (EGX).
Revenues increased to EGP 5.6 billion in the period from January to September, compared to EGP 3.9 billion in the corresponding period of 2016.
Standalone profits surged 70% to EGP 48.6 million in the nine-month period from EGP 28.6 million.
In the first half of 2017, the group achieved a net profit of EGP 696.5 million from EGP 432.13 million in H1-16, including minority shareholders’ rights.
Revenues grew to EGP 3.2 billion in H1-17, versus EGP 2.9 billion in H1-16.
By 11:20 am Cairo time, TMG Holding’s stock added 0.84% to EGP 9.58.
