Egypt's Talaat Moustafa year profit $237.4 mln

CAIRO, Jan 30 (Reuters) - Real estate developer Talaat Moustafa Group TMGH.CA posted 1.32 billion Egyptian pounds ($237.4 million) consolidated net profit in 2007, the firm said in a statement on Wednesday.

The statement did not give a comparative figure for the previous year but Prime Securities brokerage put the figure at 138 million pounds, which means net profit was 857 percent up in 2007.

The brokerage had given a forecast of 1.018 billion pounds for the year.

The group, which is Egypt's biggest real-estate developer, is made up of 21 companies operating in real estate, tourism and building materials manufacturing. It has been restructuring over the past 18 months to prepare for expansions.

The firm said in December it had bought more shares in four affiliate hotel companies for $350 million as part of an expansion plan in the sector.

Shares in the company, which was listed in November, closed 2.3 percent up at 12.25 pounds. ($1 = 5.56 Egyptian pounds) (Reporting by Wael Gamal; Editing by Quentin Bryar)