Egypt’s Talaat Moustafa 2019 net profit jumps 10%

Egypt’s largest listed real estate developer Talaat Moustafa posted a 10 percent rise in annual net profit on Wednesday.

The company made a net profit of 1.872 billion Egyptian pounds ($120 million) in 2019, up from 1.704 billion pounds a year earlier, it said in a bourse filling.

Revenues grew 7 percent to 11.7 billion pounds in 2019 from 10.93 billion pounds in 2018, it added.