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| Egypt TMG Q1 net profit drops 26% |
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| Written by Egypt News | |
| Wednesday, 13 May 2009 | |
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Egyptian largest real estate developer by market value Talaat Moustafa Group (TMG) reported on Wednesday that it posted a 26 percent decline in net profit to 314 million Egyptian pounds ($55.9 million) in the first quarter of 2009 The company said in a statement published in Egyptian newspapers that its operating revenues dropped to 1.55 billion pounds from 1.60 billion in the first quarter of 2008. Shares in the firm were trading 1.72 percent lower at 5.14 pounds by 0910 GMT. EGYPT NEWS
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