Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) on Wednesday reported a 13% year-on-year increase in consolidated profits for the first nine months of 2018.

Net profit reached EGP 1.18 billion in the nine-month period ended September, versus EGP 1.05 billion in profits for the year-ago period, the property developer said in a filing to the Egyptian Exchange (EGX).

Revenues rose to EGP 6.8 billion at the end of September, versus EGP 5.9 billion in the same period last year.

At the level of standalone business, profits fell to EGP 22.7 million in the nine-month period of this year, versus EGP 48.5 million in the corresponding period of 2017.

TMG Holding previously posted a net profit of EGP 774.21 million for the first half of 2018, compared to EGP 696.54 million in H1-17.