Cairo – Talaat Moustafa Group Holding (TMG Holding) reported a 27% year-on-year (YoY) growth in its consolidated net profits during the first half (H1) of 2022.

The EGX-listed company registered net profits after tax worth EGP 1.08 billion during the period from January to June 2022, compared with EGP 856.61 million in the corresponding period in 2021, according to a bourse statement on Monday.

Revenues jumped by 29% in H1-22, standing at EGP 7.09 billion, compared with EGP 5.49 billion in H1-21.

As for the standalone business, the real estate developer logged EGP 173.6 million in profits after tax during H1-22, a rise of 57% when compared to EGP 110 million in the same period a year earlier.

It is worth pinpointing that in the first quarter (Q1) of 2022, Talaat Moustafa Group posted consolidated net profits after tax worth EGP 553.98 million, an annual leap of 27% from EGP 434.63 million.

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