Egypt's Talaat Moustafa posts 15 pct increase in Q1 net profit

CAIRO Wed May 14, 2014 4:31am EDT

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CAIRO May 14 (Reuters) - Egyptian property developer Talaat Moustafa posted a first-quarter profit after tax of 160.8 million Egyptian pounds ($23 million) on Wednesday, up 15 percent from a year earlier, it said in an emailed statement.

Revenues fell to 1.14 billion pounds from 1.52 billion, it said. (Reporting by Shadia Nasralla; editing by Jason Neely)