Cairo – Mubasher: The consolidated net profits after tax and non-controlling interest of Talaat Moustafa Group Holding Company (TMG Holding) reached EGP 2.68 billion in the first nine months (9M) of 2023.
The recorded net profits hiked by 34% year-on-year (YoY) from EGP 1.99 billion, according to the consolidated financial results.
Revenues enlarged to EGP 13.52 billion in the January-September 2023 period from EGP 10.67 billion in 9M-22.
The group achieved real estate sales valued at EGP 19.14 billion, marking an unprecedented sales figure in the real estate sector across Egypt.
Total assets reached EGP 197.72 billion in 9M-23, versus EGP 163.37 billion as of 31 December 2022.
Standalone Business
The company posted standalone net profits after tax valued at EGP 228.21 million in 9M-23, an annual rise of 5% from EGP 217.25 million.
Total revenues rose by 10% YoY to EGP 280.56 million as of 30 September 2023 from EGP 254.05 billion.
Meanwhile, the basic and diluted earnings per share (EPS) went up YoY to EGP 0.11 from EGP 0.10.
Financials for Q3-23
During the third quarter (Q3) of 2023, the EGX-listed firm posted a leap in consolidated net profit attributable to the owners to EGP 1.12 billion, compared to EGP 887.41 million in the year-ago period.
TMG generated revenues amounting to EGP 6.12 billion in Q3-23, up from EGP 5.62 billion in Q3-22.
Non-consolidated net profits after tax jumped to EGP 52.95 million in July-September 2023 from EGP 43.59 million a year earlier, while revenues climbed to EGP 61.54 million from EGP 55.62 million.
In the first half (H1) of 2023, TMG recorded an annual surge in consolidated net profit to EGP 1.55 billion, compared to EGP 1.08 billion.
