Talaat Moustafa Group Holding (TMG) has achieved remarkable business results during the first nine months (9M) of 2024. Moreover, recurring income revenues, including hotels, recurring revenue and the service sector, have grown 2.4x to EGP 11.9bn in 9M 2024 from EGP 4.9bn in 9M 2023. The recurring revenue represented 43% of the total consolidated revenue in the period compared to 27% for the same period in 2023. Accordingly, the total sales soared to EGP 454bn in 9M 2024 compared to EGP 93.1bn booked in the same period of 2023 making year-over-year growth approximately 5 times. Moreover, the group booked some EGP 1.34bn of additional profits related to Legacy acquisition during 9M 2024.

Source: Daily News Egypt November 17, 2024 12:33 UTC