Egyptian Iron and Steel said on Wednesday its unaudited net profit for the first nine months of its 2007/8 financial year rose 229 percent to 777.5 million Egyptian pounds ($145.1 million).
The company's net profit in the same period in 2006/7 was 236.5 million pounds, the company said in a statement to the stock exchange. The company's financial year starts on July 1.
The state-controlled company, Egypt's third-biggest listed steel company, has been going through a restructuring plan led by the Ministry of Investment.
Shares in the firm, which has a market capitalisation of 16.48 billion pounds, were trading 2.6 percent lower at 48.30 pounds by 1020 GMT. - Reuters