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Talaat Moustafa Group’s consolidated profits leap 27% in Q1-22

Talaat Moustafa Group’s consolidated profits leap 27% in Q1-22
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TMG Holding
TMGH
-0.83% 58.49 -0.49

Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) has logged consolidated net profits after tax worth EGP 553.98 million in the first quarter (Q1) of 2022, an annual jump of 27% from EGP 434.63 million.

Revenues enlarged by 12% to EGP 3.02 billion in the first three months (3M) of 2022, compared to EGP 2.70 billion during the same period a year earlier, according to a bourse filing on Tuesday.

Meanwhile, the standalone net profits after tax stood at EGP 131.17 million in Q1-22, an 88% year-on-year (YoY) hike from EGP 69.89 million.

Earnings per share (EPS) surged by 96% to EGP 0.06 in Q1-22 from EGP 0.03 in the year-ago period.

During the January-March 2022 period, the non-consolidated revenues amounted to EGP 133.47 million, higher by 59% than EGP 83.93 million in Q1-21.

Last year, Talaat Moustafa Group reported consolidated net profits worth EGP 1.78 billion, up 8% from EGP 1.65 billion in 2020.