May 30, 2012 / 9:08 AM / 5 years ago

Egypt's Sewedy Q1 net profit drops 43.8 pct

CAIRO, May 30 (Reuters) - Egypt’s El Sewedy Electric , the Arab world’s biggest listed cable maker, said its consolidated first quarter net profit declined 43.8 percent, the stock exchange said on Wednesday.

Net profit fell to 102.7 million Egyptian pounds ($16.99 million) from 182.8 million pounds in the first quarter of 2011, the bourse said. ($1 = 6.0435 Egyptian pounds) (Reporting By Tamim Elyan)

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