TMG records a 16.7% growth in profits during Q1 2019

Talaat Moustafa Group Holding (TMG Holding) reported a 16.7% year-on-year growth in its consolidated profits during the first quarter of 2019 recording  361.2 million Egyptian pounds according the company’s accumulated financial indicators.

The Egyptian property developer’s net profits were compared to EGP 309.35 million during the same period last year.

Meanwhile, revenues recorded  2.24 billion pounds in Q1-19 from 1.61 billion pounds in Q1-18, the Egyptian real estate giant said.

As for standalone business, TMG Holding’s net profits surged to 31.53 million pounds  in the January-March period of this year, compared to 10.63 million pounds in the same period a year earlier.

For the full-year 2018, the property developer’s profits  registered 1.77 billion pounds versus 1.32 billion pounds in the previous year, including minority shareholders’ rights

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