Talaat Moustafa Group Holding (TMG Holding) reported a 219.76% year-on-year (YoY) surge in consolidated profits attributable to the parent company during the first quarter (Q1) of 2024, registering EGP 2.390 billion, compared to EGP 747.459 million, according to the firm’s financial statements sent to the Egyptian Exchange (EGX) on May 30th.

Standalone net profits rose to EGP 206.840 million during the January-March period of this year from EGP 132.310 million in Q1 2023.

TMG is an Egypt-based company engaged in real estate investment activities. The company establishes and develops hotels and touristic and residential projects in Egypt.

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