Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) reported an 11% year-on-year profit increase during the first half of 2019, the company’s unaudited consolidated financial results showed.
The Egyptian property developer’s profit rose to EGP 812.34 million in the six-month period ended 30 June, compared to EGP 731.7 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
Year-on-year, the company’s revenues increased to EGP 4.9 billion in the January-June period of 2019 from EGP 3.9 billion.
At the level of standalone business, TMG Holding’s profit surged to EGP 56.25 million in H1-19, compared to EGP 18.06 million in H1-18.
During the first quarter of 2019, the real estate developer’s net profits amounted to EGP 374.7 million, up from EGP 340.6 million in the year-ago period.
