Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) recorded higher annual net profits by 15% during the first nine months (9M) of the year at EGP 1.96 billion from EGP 1.70 billion.

The property developer’s revenues surged by 23% to EGP 13.91 billion in the nine-month period ended 30 September 2022 from EGP 11.31 billion in the prior-year period, according to a bourse disclosure on Monday.

As for standalone business, the company’s net profits rose by 46% yearly to EGP 217.28 million in the January-September 2022 period from EGP 148.67 million.

During the first half (H1) of 2022, the firm reported a 27% annual growth in its consolidated net profits to EGP 1.08 billion, compared with EGP 856.61 million.