Egypt's TMG 2012 net profits dip to $81 mln

Reuters Middle East

CAIRO, March 4 (Reuters) - Egyptian property developer

Talaat Moustafa reported a 5.5 percent drop it its

2012 annual net profits, the firm said in an emailed report on

Monday.

The firm posted a net profit of 545.73 million Egyptian

pounds ($80.96 million) in 2012 compared with 577.51 million

pounds a year earlier.

TMG, like most firms in Egypt, has suffered deeply from

economic turmoil since a popular uprising in 2011 that drove

president Hosni Mubarak from office.

($1 = 6.7403 Egyptian pounds)

(Reporting by Asma Alsharif)

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