Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) achieved consolidated net profits after tax worth EGP 2.23 billion in 2022, up 25% from EGP 1.78 billion in 2021.
Revenues hit EGP 19.87 billion in the 12-month period that ended on 31 December 2022, a 29% year-on-year (YoY) hike from EGP 15.34 billion, according to the consolidated income statements.
Standalone Financial Results
The company registered standalone net profits after tax worth EGP 660.98 million during the January-December 2022 period, an annual surge of 22% from EGP 542.12 million.
Non-consolidated revenues enlarged by 25% to EGP 788.41 million in 2022 from EGP 630.81 million in 2021, whereas the earnings per share (EPS) grew by 22% to EGP 0.32 from EGP 0.26.
Dividends
The board of Talaat Moustafa Group recommended a cash dividend to shareholders worth EGP 0.19 for 2022. The company would pay out EGP 0.09 on 31 May 2023, whereas the second installment is expected to be disbursed on 31 July.
It is worth noting that the board determined the proposal during its meeting on 15 February 2023.
In 2022, the EGX-listed firm generated EGP 33.20 billion in net sales, higher by 28% than the upper limit of its annual sales guidance of EGP 24-26 billion.
During the first nine months (9M) of 2022, the group recorded net profits worth EGP 1.96 billion, an annual increase of 15% from EGP 1.70 billion.
