Egypt's Sewedy 9M net profit drops 24 pct

Egypt's El Sewedy Electric , the Arab world's biggest listed cable maker, posted a 24 percent drop in its nine-month net profit, according to figures published by the Egyptian stock exchange on Thursday.

Net profit fell to 528.3 million Egyptian pounds ($88 million) from 698.1 million pounds in the same period of 2010, the bourse said. ($1 = 6.0048 Egyptian pounds).