Thndr Claps » EGY Claps » Earnings 📈 » Talaat Moustafa’s 9-month 2022 profits up 15%🏠
The ClapTalaat Moustafa Group’s net profits for the first nine months of 2022 were up 15% on an annual basis.
WhatProfits recorded EGP 1.9 billion despite sales falling 24% year-over-year.
So whatThe company’s drop in sales isn’t necessarily a result of bad performance, but the very strong sales that TMG recorded last year for its megaproject “Noor”.
Now whatThe real estate giant is still studying the effect of the CBE’s decisions last month to increase interest rates & adopt a more flexible exchange rate.
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