Egypt’s Ezz El-Dekheila (EZDK) — a unit of Ezz Steel — hit a whopping 218 percent rise in profits of the first nine months of 2013 compared to the same period of the year before, a statement sent to the Egyptian Bourse revealed Sunday.

According to the statement, EZDK saw consolidated profits worth LE789.8 million ($113.8 million) in the period between January and September 2013.

Ezz Steel, Egypt's largest steel producer, holds a 55 per cent stake in EZDK.