Cairo – Mubasher: Alexandria Flour Mills reported on Sunday a rise of 7.65% in the company’s profits for the second quarter of the fiscal year 2016-2017 to EGP 9.28 million, versus EGP 8.62 million for Q2-15/16.
In the first half of fiscal 2016/17, profits grew 23% to EGP 24.38 million from EGP 19.82 million for H1-15/16, according to a bourse filing.
The company said that it has suffered losses worth EGP 35 million due to the floatation of the Egyptian pound.
The firm plans to develop Alexandria mill in the first H1-16/17 at a cost of EGP 18.3 million.
