Cairo – Mubasher: Upper Flour Mills on Wednesday reported a profit increase of 57.255% in the second quarter of the fiscal year 2016-2017, according to the company’s unaudited standalone financial statements.
Profits of reached EGP 48.31 million during the second quarter ended 31 December 2016, compared with EGP 30.72 million in the same period of the previous year, according to a bourse filling.
Profits in the first half of the current fiscal year, from July to December, rose 46.09% year-on-year to EGP 93.94 million from EGP 64.30 million, while revenues grew 5.79% to EGP 1.46 billion from EGP 1.38 billion.
The company said in a separate statement that its transactions were done using the Egyptian pound, and were not affected by the changes in foreign exchange rates.
