Cairo – Mubasher: Upper Egypt Flour Mills reported a 24.9% year-on-year decline in its standalone profits during the first nine months of fiscal year 2018/2019.
The Egyptian company’s net profits logged EGP 107.71 million from July 2018 to last March, compared to EGP 143.39 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Tuesday.
Meanwhile, revenues plunged to EGP 552.49 million for the nine months ended 31 March from EGP 788.13 million in the corresponding period a year earlier.
For the first half of FY18/19, the company’s net profits amounted to EGP 80.83 million, compared to EGP 88.15 million in the same period of FY17/18.
From July to December, the company’s revenues fell to EGP 564.96 million from EGP 867.36 million in the year-ago period.
