The consolidated financial statements of Talaat Moustafa Group Holding (TMG Holding) showed an increase of 10% in profits by 10% during the first half of 2019, compared to the corresponding period last year.
The profits of the period amounted to EGP 852.23 million in H1-19, compared to EGP 774.2 million in H1-18, including minority shareholders’ rights, the company disclosed to the Egyptian Exchange (EGX) on Wednesday.
Sales grew to EGP 3.02 billion in H1-19 from EGP 2.7 billion in H1-18.
On a quarterly basis, TMG Holding’s profits increased to EGP 477.5 million in Q2-19 from EGP 433.6 million in Q2-18.
As for the standalone income statements, profits soared to EGP 56.25 million in the first six months of 2019 from EGP 18.06 million in H1-18.
On 7 August, the unaudited financial statements of TMG Holding showed that its profits rose to EGP 812.34 million in H1-19 from EGP 731.7 million in H1-18.