The Clap:
Talaat Moustafa Group Holding saw its net profits leap 490% YoY in the three months ending in March.
Revenues:
The company saw its real estate development revenues rise 21.1% YoY during Q1 to EGP 3.47 billion, while revenues from its hospitality business surged 192.5% YoY to EGP 2.33 billion, and revenues from service activities and operations with periodic yield rose 27% YoY.
Gross profit:
The firm recorded a 113.6% YoY rise in its gross income to EGP 3.33 billion during the quarter.
Net profit:
Talaat Moustafa Group saw its bottom line grow 490% YoY to EGP 4.13 billion.
Remember, its first Saudi project is expected to increase profitability:
The Group saw its contractual sales and reservations in the year-to-date climb 153% YoY to EGP 86 billion partly on the back of its Benan City project, through which it raked in about EGP 11.5 billion since its soft launch in May.
