Egypt: Talaat Moustafa Group announces $65.2mln contracted sales in Q1-23

Talaat Moustafa Group Holding (TMG Holding) reported contracted sales amounting to EGP 20.17 billion in the first quarter (Q1) of 2023, according to a bourse filing.

During the January-December 2022 period, the consolidated net profits after tax of TMG Holding reached EGP 2.23 billion, higher by 25% year-on-year (YoY) than EGP 1.78 billion.

Revenues enlarged by 29% to EGP 19.87 billion in 2022 from EGP 15.34 billion a year earlier.

Meanwhile, the non-consolidated net profits after tax stood at EGP 660.98 million last year, up 22% from EGP 542.12 million as of 31 December 2021.

Last March, the company’s shareholders greenlighted cash dividends worth EGP 400 million for 2022, to be paid over two equal tranches on 31 May and 31 July 2023, respectively.