Economics

Talaat Moustafa Group expects LE 13B in sales by year-end

CAIRO – 29 November 2017: Real estate developer Talaat Moustafa Group Holding (TMG) achieved LE 12.02 billion in net sales in 11 months in 2017, the company announced Wednesday.
Sales of 2017 exceeded expectations in the initial budget that was set at LE 11.4 billion, TMG said, expecting the year to end at LE 13 billion in sales.
In a report to the Egyptian Exchange, TMG said that sales between the beginning of July and the end of November stood at LE 7.1 billion, which is the highest level recorded since 2008.
Between January and the end of June, TMG registered LE 4.91 billion in net sales.
TMG achieved a 72-percent leap in net profit in nine months, registering LE 1.06 billion ($60 million). The company said that the figure is compared to LE 616.4 million posted in the first nine months of 2016.

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