TMG Holding’s consolidated profits leap 332% in 2024; dividends unveiled

PHOTO
Cairo, Egypt, September 24 2022: A large Advertisement LCD LED TV on a sand hill for TMG Talaat Moustafa Group, one of the largest conglomerates in Egypt, Madinaty and Al Rehab city in New Cairo, selective focus. Image used for illustrative purpose. Getty Images

Cairo: Talaat Moustafa Group Holding Company (TMG Holding) logged consolidated net profits after tax and non-controlling interest of EGP 14.46 billion in 2024, an annual hike of 332% from EGP 3.34 billion in 2023.

The group’s revenues hit EGP 42.67 billion last year, marking a 50% leap from EGP 28.44 billion, according to the financial results.

Basic earnings per share (EPS) grew by 17.40% year-on-year (YoY) to EGP 4.68 in 2024 from EGP 1.46.

Standalone Business

TMG Holding registered 18% YoY higher net profit after tax at EGP 801.96 million in January-September 2024, an annual surge from EGP 682.46 million.

Non-consolidated revenues climbed by 22% to EGP 965.92 million last year from EGP 793.22 million in 2023, while the basic EPS increased to EGP 0.39 from EGP 0.33.

Cash Dividends

The company announced cash dividends to shareholders valued at EGP 515.16 million.

In the first nine months (9M) of 2024, TMG Holding posted higher consolidated net profits at EGP 9.06 billion, versus EGP 2.69 billion in 9M-23.