Cairo – Mubasher: The consolidated net profits after taxes and non-controlling interest of Talaat Moustafa Group Holding Company (TMG Holding) jumped by 308% to EGP 6.36 billion in the first half (H1) of 2024 from EGP 1.55 billion in H1-23.
Revenues amounted to EGP 17.02 billion in H1-24, higher by 59% year-on-year (YoY) than EGP 10.70 billion, according to the consolidated financial results.
Earnings per share (EPS) hit EGP 1.70 in the first six months (6M) of 2024, versus EGP 0.68 in H1-23.
Standalone Results
The group’s standalone net profits after tax reached EGP 263.69 million in H1-24, up 50.50% YoY from EGP 175.25 million.
Non-consolidated revenues enlarged by 50% to EGP 327.97 million as of 30 June 2024 from EGP 219.02 million a year earlier, while the EPS increased to EGP 0.12 from EGP 0.08.
Financials for Q2-24
In the second quarter (Q2) of 2024, the real estate developer registered consolidated net profits worth EGP 2.22 billion, compared to EGP 858.75 million a year earlier. EPS climbed to EGP 0.72 from EGP 0.32.
As of 31 March 2024, TMG Holding witnessed higher consolidated net profits at EGP 4.13 billion, versus EGP 700.13 million in Q1-23.
