Talaat Moustafa Group's profit grows 23% in H1

The company achieved net profits of $55mln in the first half (H1) of 2021

  
A view of the buildings from plane window, in a densely populated area, following the COVID-19 outbreak over Cairo, Egypt June 20, 2020.

A view of the buildings from plane window, in a densely populated area, following the COVID-19 outbreak over Cairo, Egypt June 20, 2020.

REUTERS/Mohamed Abd El Ghany

Cairo - Mubasher: Talaat Moustafa Group Holding (TMG Holding) achieved net profits of EGP 869.38 million in the first half (H1) of 2021, an increase of 23.16% year-on-year (YoY) from EGP 705.85 million, the unaudited consolidated financial results showed.

The revenues increased to EGP 5.49 billion in the January-June period, compared to EGP 4.33 billion in the corresponding period a year earlier, the company said in a bourse disclosure on Sunday.

As for standalone business, TMG Holding recorded net profits of EGP 110.29 million in H1-21, up from EGP 68.9 million in H1-20.

In the first quarter (Q1) of 2021, the property developer reported consolidated net profits of EGP 447.08 million, compared to EGP 375.33 million in Q1-20, including minority shareholders' rights.

Source: Mubasher

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