Reuters reported that Egypt's largest steel producer Ezz Steel net profit for the first 9 months of 2011 declined 26% from a year earlier.

The company was rocked by the uprising against leader Mr Hosni Mubarak in February and its aftermath. Egypt's public prosecutor jailed the company's chairman Mr Ahmed Ezz in February on corruption charges. He has since stepped down.

Net profit after minority interests dropped to EGP 179 million from EGP 242 million. Net sales rose 22% YoY to EGP 14.16 billion.

(Sourced from Reuters)