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
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