News Details

Talaat Moustafa Group Holding "TMGH" (TMGH.CA)’s 1Q2022 consolidated Net Profit rises 27%

26/05/2022

EGP mn

1Q2021

1Q2022

Change %

Revenues

2,700.5

3,024.3

12.0%

Gross Profit (Loss)

942.0

1,086.8

15.4%

GPM %

34.9%

35.9%

 

Net Profit (Loss)

447.1

565.7

26.5%

NPM %

16.6%

18.7%

 

Talaat Moustafa Group Holding "TMGH" (TMGH.CA)’s 1Q2022 consolidated net profit recorded EGP 565.7mn marking26.5% rise compared to EGP 447.1mn in 1Q2021. (Company’s Financial Statements). Analyst Comment: the improvement in the company’s bottom-line can be mainly explained by recording gross profit of EGP 1,086.8mn in 1Q2022 marking 15.4% rise compared to EGP 942mn in 1Q2021, as well as recording FX gains of EGP 148.8mn in 1Q2022 multiplying from EGP 5mn in 1Q2021. On the other hand SG&A expense recorded EGP 400mn in 1Q2022 marking 31.2% surge compared to EGP 305mn in 1Q2021, as well as 43.3% surge in income tax expense recording EGP 229.4mn in 1Q2022 compared to EGP 160mn in 1Q2021.

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