Cairo – Mubasher: Talaat Moustafa Group reported a 9.41% growth in its profits for the second quarter of 2016 (Q2), according to the unaudited financial results.
Q2 net profit after tax reached EGP 226.84 million ($25.49 million), compared with EGP 207.33 million ($23.30 million), taking into consideration minority rights.
Over the first half (H1), net profit rose to EGP 434.65 million ($48.84 million) from EGP 393.73 million ($44.24 million) for the year-ago period.
H1 revenues also went up by 0.58% year-over-year to EGP 2.924 billion from EGP 2.907 billion.
According to the standalone results, the company registered EGP 16.86 million ($1.89 million) profits, compared with EGP 13.54 million ($1.52 million) for prior-year quarter.
In the first quarter, net profits increased 11.5% year-over-year to EGP 207.81 million ($23.4 million) from EGP 186.4 million ($21 million).
