Thursday 21 Nov
Talaat Mostafa Group Holding's stock continued its upward trajectory, leading the rise of the Egyptian Stock Exchange's main index for the second consecutive trading session on Tuesday. The stock surged by 3.61%, closing at 59.980 Egyptian pounds. This robust performance was accompanied by substantial trading activity, with 3.8 million shares changing hands, totaling 226.5 million Egyptian pounds in value. As a result, the company's market capitalization exceeded 123 billion Egyptian pounds.
TMG Holding's stock represents a
significant portion of the main index, accounting for 10.87%. This makes it not
only the largest real estate company listed on the exchange but also the
second-largest overall, following the Commercial International Bank-Egypt. This
prominence is a testament to the company's strong position within the Egyptian
market and the confidence investors have in its future prospects.
The company's performance has
been exceptional, particularly in the first half of 2024. TMG Holding achieved
unprecedented results, both operationally and financially. Sales reached 391
billion Egyptian pounds (approximately 8.1 billion US dollars), as of the end
of July, or at the financial level, achieving revenues amounting to 17.02
billion pounds during the year. The first half of 2024 compared to 10.71
billion pounds during the same period last year, a growth rate of 59%.
The total combined profit amounted to 6.57 billion pounds during the first half of 2024, compared to 3.39 billion pounds during the same period last year, a growth rate of 94%. Net profit after taxes amounted to about 6.36 billion pounds during the first half of 2024, compared to 1.55 billion pounds during Same period last year, growth rate of 308%
