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TMG Q1 profit rises 4%

TMG Q1 profit rises 4%

ArabFinance:  Talaat Moustafa Group (TMG) Holding (TMGH) posted a 4% Year on Year increase in its consolidated net profit for Quarter one (Q1) of 2020, according to the company’s May 21st statement filed to the Egyptian Exchange.

Consolidated net profit reached EGP 375,335,322 in Q1, compared to EGP 361,200,208 achieved in Q1 2019.

In the same quarter, standalone net profit reached EGP 36,085,779, a 36% rise from EGP 31,536,818 posted in the corresponding period of 2019.

The company distributed cash dividends of EGP 0.088 per share to the shareholders recorded on May 11th.

The cash dividend will be paid in two equal installments of EGP 0.044 per share on May 14th and July 15th.

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

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