TMG Holding income falls 11% in 2020

Talaat Moustafa Group’s (TMG) net income declined 11% in 2020 to EGP 1.7 bn, compared to EGP 1.9 bn a year earlier, according to the company’s earnings statement (pdf). This came despite revenues jumping 20% y-o-y to hit EGP 14 bn during the year.