Cairo-Mubasher: South Cairo and Giza Flour Mills and Bakeries posted losses of EGP 10.3 million ($1.3 million) in the six-month period ended 31 December 2015, against net earnings of EGP 3.2 million ($412,700) in the same period a year earlier.
The company's sales dropped to roughly EGP 397.2 million from EGP 582.3 million.
The decline was mainly due to higher cost of production, the company said in a bourse statement.
