TMG's nine-month net income drops 12.2%
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TMG's nine-month net income drops 12.2%

TMG's nine-month net income drops 12.2%

Egyptian property developer Talaat Moustafa Group (TMG) has posted a 12.2% drop in nine-month net profit to EGP433m ($71m), on revenue down 27% to EGP3.21bn, Reuters has reported. An Egyptian court is set to rule on January 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.

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