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FINANCIAL NEWS
Egypt’s TMG reports USD54m profit in H1
09 Aug 2012
(MENAFN) Egyptian developer giant Talaat Moustafa Group (TMG) posted an 11 percent decline in half-yearly profits compared to a year earlier, Reuters reported.
The group said it made USD54.11 million net profit during the first six months of the year.
TMG was hit hard by last year’s popular uprising that ousted President Hosni Mubarak.
TMG was also negatively affected by a long-running dispute over the sale of state land for its flagship development.
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