Egypt Developer TMG First-Quarter Net Profit Falls 19.8 Pct

By Amwal Al Ghad English On May 15, 2013

Egyptian property developer Talaat Moustafa Group (TMG) said net profit in the first quarter of 2013 fell 19.8 percent to 139.4 million Egyptian pounds ($20 million).

TMG’s profit for the first quarter of 2012 was 173.7 million pounds, the firm said in a statement published by the stock exchange on Tuesday.

Reuters