Egypt's Talaat Moustafa Group said its full-year net profit fell 39 per cent last year when the real estate industry was thrown into turmoil by a popular uprising and disputes over land ownership. The decline was narrower than a 44 per cent drop in first-half earnings. TMG reported full-year profit of LE577.5 million ($95.72 million), down from 940 million in 2010. Total sales for projects were around LE3 billion, down from LE4 billion a year earlier. Revenues - including money received once clients take ownership of properties - slipped to 5.1 billion from 5.34 billion, the company said in a statement.
