Talaat Moustafa Group Holding (TMG Holding) has generated EGP 4.1 billion in sales since the beginning of 2019, the company’s CEO said on Monday.
The Egyptian real estate firm aims to raise its sales by 12.6% year-on-year, Hisham Talaat Mostafa told reporters on the sidelines of Cityscape Egypt 2019.
Mostafa noted that the property developer targets sales of EGP 24 billion this year, versus EGP 21.3 billion in 2018.
In February, TMG Holding reported an EGP 1.77 billion in consolidated profits for fiscal year ended 31 December 2018, versus EGP 1.32 billion in 2017.
The company’s revenues rose to EGP 10.9 billion last year, versus EGP 8.53 billion a year earlier.
Moreover, the company’s management had proposed a cash dividend of EGP 365 million or EGP 0.17 per share for 2018.