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Egyptian resorts returns to profit in first nine months

Real estate firm Egyptian Resorts turned to profit in the first nine months, reversing a loss for the same period a year earlier, the stock exchange said on Tuesday.

November 16, 2011 12:58 by

The company, which makes most of its money selling land to developers, reported a net profit of 1.1 million Egyptian pounds ($183,977) for the the first nine months of 2011, compared to a net loss of 6.7 million in the first nine months of 2010. (Reporting by Dina Zayed)


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