Talaat Moustafa Holding Group (TMG Holding) announced a significant
surge in net profit for the first half of the year, with a 310% year-on-
year increase. According to the company's consolidated financial
statements released, revenues climbed substantially, reaching EGP 17
billion.
The net profit reached EGP 6.36 billion during the period from January
to June 2024, compared to EGP 1.55 billion in the same period of 2023.
The group disclosed this information in a statement to the Egyptian
Stock Exchange.
The company revenues also experienced significant growth, surging
from EGP 10.7 billion in Talaat Moustafa the first half of 2023 to EGP
17.02 billion in the corresponding period of 2024. At the standalone
business level, profits after tax increased to EGP 263.69 million from
EGP 175.25 million in the same period last year.
Talaat Moustafa Holding Group reported profits of EGP 4.13 billion in
the first quarter of 2024, a substantial increase compared to the EGP
700.13 million profit recorded in the same period of 2023, after
accounting for minority interests. The company's revenue grew to EGP
6.79 billion in the first quarter of 2024, up from EGP 4.43 billion in the
same period of 2023 Standalone business profits reached
approximately EGP 206.84 million in the first quarter of 2024,
compared to EGP 132.31 million in the same period last year.