Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) on Wednesday posted sales of EGP 7.11 billion for the period starting 1 July to 28 November.
Total sales since 1 January to 28 November amounted to EGP 12.02 billion, smashing expectations of the group’s modified annual budget of EGP 11.4 billion, the company added in a statement to the Egyptian Exchange (EGX).
In the first half of 2017, sales soared 145% to EGP 4.91 billion, compared to the period starting 1 July to 28 November, TMG Holding highlighted.
The company attributed this growth in sales to the new policies adopted by the group since 1 July.
Sales are forecasted to reach EGP 13 billion by the end of 2017 and to maintain hiking in 2018, according to the statement.
It is worth mentioning that TMG holding had previously posted a 118% rise in third-quarter profits to EP 410.8 million, compared to profits of EGP 188 million in Q3-16.
In the first nine months of 2017, sales surged 72.7% to EGP 9.5 billion from EGP 55 billion in the year-ago period.
