Cairo – Mubasher: South Cairo and Giza Flour Mills and Bakeries lost EGP14.78 million ($1.65 million) in the first nine months of 2015/16 against a net profit of EGP9.474 million ($1.06 million) a year earlier, according to financial results.
The company achieved EGP634.849 million revenues during the same period versus EGP876.476 million for the year-ago period.
Earlier, the company announced targeting a net profit after tax of EGP2.7 million in 2016/17 budget estimates.
The company’s losses for the first half of 2015/16 widened to EGP 10.3 million from EGP 3.2 million in 2014.
