Cairo – Mubasher: Upper Egypt Flour Mills on Monday reported a 5.7% year-on-year decline in net profits for the first quarter of fiscal year 2018/2019.
Net profit amounted to EGP 46.1 million in the three-month period ended September, versus EGP 48.9 million in the same period a year earlier, the company said in a filing to the Egyptian Exchange (EGX).
Revenues fell to EGP 178.9 million at the end of September, versus EGP 445.9 million in Q1-17/18.
Upper Egypt Flour Mills previously posted a net profit of EGP 205.27 million in FY17/18, compared to EGP 176.39 million in the previous fiscal year.
