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The Board of Directors of the Talaat Mustafa Group Holding Company, in a meeting held on 3 March, released the company’s financial statements for the year ending December 31 2012.
After taxes, the company achieved net profits of EGP 545.71m during 2012, as opposed to EGP 577.509m during 2011, representing a 5.5% decrease.
Company revenues decreased by 9.1% from EGP 5.98bn in 2011 to EGP 4.636bn in 2012.
The company’s total sales increased to EGP 4.48bn in 2012, up from EGP 3.01bn in 2011.
The Thabat Company for Real Estate Development in Saudi Arabia decided to divest from Talaat Mustafa Group Holding.
The company is scheduled to hold both a formal and informal assembly on 23 March.
