FINANCIAL NEWS

Egypt’s Talaat group logs 8.9 percent growth in profit over Jan-Sep

18 Nov 2015

(MENAFN) Talaat Mostafa Group Holding (TMGH), Egypt’s top real-estate developer registered an 8.9 percent climb in its gross profit for the first three quarters.

The overall net profit for the mentioned period stood at USD67.6 million as opposed to USD62.1 million for last year’s corresponding period, based on the released reports.

As for the sales, the group reported a total of USD649 million over the cited timeframe, which significantly surpassed the group’s target of hitting USD585 million.

In a different note, the group has established luxury hotels in the country, including the Four Seasons in Nile Plaza, San Stefano and Sharm El-Sheikh, among other top hotels.

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