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Talaat Moustafa nine-month net income down 12.2 pct
November 8, 2012 / 9:33 AM / 5 years ago

Talaat Moustafa nine-month net income down 12.2 pct

CAIRO, Nov 8 (Reuters) - Egyptian property developer Talaat Moustafa Group has reported a 12.2 percent fall in nine-month net profit to 433 million Egyptian pounds ($71 million), on revenue down 27 percent to 3.21 billion.

An Egyptian court will rule on Jan. 16 in a long-running dispute over TMG’s flagship real estate project, a case being closely watched as an indicator of the investment environment. That case has cast a shadow over the company’s activities. ($1 = 6.1130 Egyptian pounds) (Writing by Marwa Awad; Editing by Dan Lalor)

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