Talaat Moustafa Group's profit falls 13% in H1-20 unaudited results

The Egyptian firm generated revenues of $286mln


Cairo – Talaat Moustafa Group Holding (TMG Holding) posted net profits of EGP 705.85 million in the first (H1) of 2020, down by 13% year-on-year (YoY) from EGP 812.34 million, including minority shareholders’ rights, the financial indicators showed.

The Egyptian firm generated revenues of EGP 4.58 billion in the six-month period ended on 30 June, down from EGP 4.94 billion in the same period a year earlier, according to a bourse disclosure on Tuesday.

As for standalone business, TMG Holding logged EGP 68.9 million in net profits, compared to EGP 56.25 million in the year-ago period.

It is worth mentioning that during the first quarter (Q1) of 2020, the company reported net profits of EGP 375.33 million, compared to EGP 361.2 million in the corresponding period in 2019.

Source: Mubasher

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