Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) on Thursday revealed it targets an annual sale growth of 12.6% in 2019.
The company aims to achieve sales of EGP 24 billion this year, versus sales of EGP 21.3 billion in 2018, the Egyptian property developer said in a statement to the Egyptian Exchange (EGX).
The company’s board of directors will discuss the budget and financial results during the ordinary general meeting (OGM) to be held on 30 March 2019, according to the statement.
Earlier this day, TMG Holding reported a 28% year-on-year surge in consolidated profits for 2018.
Net profit amounted to EGP 1.77 billion in 2018, versus EGP 1.32 billion in 2017, including minority shareholders’ rights, the property developer said in a filing to the EGX.
Revenues grew to EGP 10.9 billion last year, versus EGP 8.53 billion a year earlier, the company added.
Moreover, the company’s management proposed a cash dividend of EGP 365 million or EGP 0.17 per share for 2018.
