Talaat Moustafa Group’s Q1 Profits Hit EGP 173.7 Mln

By Yomna Yasser On May 14, 2012

During the first quarter of 2012, Talaat Moustafa Group Holding (TMGH.CA) posted EGP 173.737 million net profits, with an increase of 2.5% compared to EGP 169.436 million for the same period of 2011.

Talaat Moustafa Group’s total revenues declined with 5.4% to reach EGP 1.303 billion in Q1 of 2012. Total revenues were EGP 1.377 billion in 2011. The company’s gross profits, after excluding the revenues, dropped to reach EGP 327.438 million, after having gross profits of EGP 347.804 million last year.

The company’s working capital surged 4.68% to reach EGP 11.782 billion, compared to EGP 11.255 billion during 2011’s same period.

TMGH’s paid-up capital has also soared 2.5% to hit 20.635 billion, compared to EGP 20.132 billion. The company’s total reserves inched higher 0.04% to reach EGP 278.494 million, compared to EGP 278.381 million.

In the meanwhile, the non-consolidated financial statements for the same comparable period of 2012 has revealed that TMGH had posted net profits of EGP 4.846 million, compared to net losses of EGP 1.657 billion in 2011.