Cairo – Mubasher: The unaudited financial results of Middle Egypt Flour Mills showed a 22.8% year-on-year (YoY) profit drop during the first nine months of fiscal year 2019/2020.
The company achieved net profits of EGP 72.44 million from July 2019 to the end of last March, compared to EGP93.93 million in the corresponding period a year earlier, according to a bourse disclosure on Thursday.
Sales shrank to EGP 377.18 million in the nine-month period ended 31 March from EGP 933.68 million in the year-ago period.
It is noteworthy to mention that in the first eight months of FY19/20, the company logged EGP 64.38 million in net profits, down from EGP 78.43 million in the same period of FY18/19.
