Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) posted higher consolidated net profits at EGP 9.06 billion in the first nine months (9M) of 2024, versus EGP 2.69 billion in 9M-23.
The development group generated consolidated revenues valued at EGP 16.05 billion as of 30 September 2024, up year-on-year (YoY) from EGP 13.52 billion, according to the financial results.
Earnings per share (EPS) hit EGP 2.74 in 9M-24, compared to EGP 1.18 in the year-ago period.
Standalone Results
Non-consolidated net profit after tax hit EGP 326.32 million in January-September 2024, an annual surge from EGP 228.21 million.
Total revenues widened to EGP 408.19 million in 9M-24 from EGP 280.56 million in the year-ago period, while the EPS climbed to EGP 0.15 from EGP 0.11.
Financials for Q3-24
In the third quarter (Q3) of 2024, TMG Holding generated EGP 2.69 billion in net profit, higher than EGP 1.13 billion in Q3-23.
The group’s revenues increased to EGP 6.91 billion in Q3-24 from EGP 6.12 billion in Q3-23, while the EPS grew to EGP 1.03 from EGP 0.50.
As for the standalone business, the net profits after tax hit EGP 62.62 million in July - September 2024, whereas the revenues stood at EGP 80.22 million.
During the first half (H1) of 2024, TMG Holding recorded 308% YoY higher consolidated net profits at EGP 6.36 billion, compared to EGP 1.55 billion.
