TMG Holding records sales of EGP 390B YTD
Updated 7/30/2024 11:14:00 AM
Arab Finance: Talaat Moustafa Group Holding (TMG Holding) has generated unprecedented sales of EGP 390 billion year-to-date until July 29th, compared to EGP 60 billion over the same period last year, as per a statement.
The group has garnered EGP 251 billion in sales from the newly-launched SouthMed project in the North Coast in less than one month from bookings open.
The group’s sales for this year are expected to increase its pre-tax profit by about EGP 45 billion over the coming four to five years.
This is along with EGP 30 billion in pre-tax profits from the backlog of EGP 145 million booked early this year.
On July 2nd, the group announced the launch of SouthMed, its first project in the North Coast, with investments estimated EGP 1 trillion ($21 billion).
On June 9th, TMG disclosed that it garnered EGP 37.1 billion in sales from the Banan City project in Saudi Arabia during the January-May period of 2024.
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