Egypt

Talaat Moustafa Group Holding: 2Q22 – Unfavorable base effect on sales

  • 2Q22 sales declined 66.2% y/y to EGP5.9 billion given 2Q21 had witnessed the massive launch of Noor

  • 2Q22 revenue rose 45.8% y/y to EGP4.1 billion and net profit rose 29.4% y/y to EGP546.6 million

  • TMGH is on track to meet our FY22 sales forecast of EGP24.4 billion projected in our EGP16.66/share valuation

https://cdn.tellimer.com/providers/badge-al-ahly-pharos-securities-brokerage-GqpGH9186DDYN9Jb9zpe1X3CHQPB77ZUYFvjxBxL.png
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage
August 8th, 2022
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