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Naeem sets fair value of TMG Holding

Naeem sets fair value of TMG Holding

ArabFinance: Naeem Holding for Investments set the fair value of Talaat Moustafa Group (TMG) Holding’s (TMGH) stock at EGP 13.6 with a “buy” recommendation, according to an April 27th technical note. 

TMG achieved robust sales in the first quarter of 2019 supported by the commercial projects, Naeem Research said.

In 2019, the company posted a consolidated net profit of EGP 1.872 billion, a 10% increase from EGP 1.704 billion in 2018.

Standalone net profit reached EGP 471.139 million, compared to EGP 309.797 million a year earlier, with a 52% increase.

TMG is an Egypt-based company engaged in real estate investment activities. The company establishes and develops hotels as well as touristic and residential projects.

 

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