Egypt Developer TMG First-Quarter Net Profit Falls 19.8 Pct

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