Talaat Moustafa’s revenues soar by 17% in 2015

Egyptian developer Talaat Mostafa Group Holding Co. (TMGH) reported a 17 percent rise in revenues during 2015, company said in a statement on Wednesday.

Thus, the company posted revenues of 6.18 billion Egyptian pounds in 2015, up from 5.27 billion pounds in the same period last year, the results revealed.

TMG’s consolidated financial results recorded net profits of 761.576 versus net profits of 681.804 a year earlier with a growth rate of 12 percent.

According to the company’s standalone results net profit of EGP 314.672 million compared to EGP 34.639 million during the same time last year with an increase of 1177%.

While the company’s standalone revenues recorded 384.414 million EGP during 2015 from 59.704 million Egyptian pounds in 2014 with a growth rate of 544%.

The company’s standalone net profit increased by 8.9 percent compared to EGP 34.639 during the last nine month of 2015.

Thus, it has reported a net profit of 531.4 million Egyptian pounds after taxes and minority compared to 487.9 million Egyptian pounds during the same period last year.

According to the company’s standalone results it has turned into profitability to register a net profit  after tax of EGP 15.8  Million opposed to losses of  EGP 324.5 million during the same period last year.

Moreover, The capital of TMG is estimated by EGP 20.6 billion distributed on 2.1 billion share.