Egypt’s property developer Talaat Moustafa profits rise 118% in Q3

Talaat Moustafa Group, one of Egypt’s largest real estate developers, reported Monday a 118 percent increase from a year ago in its third-quarter profits reaching 410.8 million Egyptian pounds ($23.2 million).

Earlier, profits stood at 188 million pounds during the third quarter of 2016.

The company generated sales worth 13.1 billion pounds in 2017 up from 6.55 million pounds in 2016.