Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) posted a 61% year-on-year surge in profits for the first half of 2017 due to higher revenues, according to a bourse filing on Monday.
The Egyptian firm achieved profits of EGP 696.5 million in the six months ended June, from EGP 432.13 million in the corresponding period of 2016, taking minority rights into consideration.
Revenues increased to EGP 3.2 billion in H1-17 from EGP 2.9 billion in H1-16.
Standalone profits rose to EGP 37.55 million in H1-17 from EGP 16.8 million in H1-16.
TMG Holding had previously reported achieving profits of EGP 288.54 million in the three months ended March 2017 from EGP 207.8 million in the same period last year.
