Cairo – Mubasher: The unaudited financial results of North Cairo Mills posted a 52.8% year-on-year (YoY) profit decline during the first nine months of fiscal year 2019/2020.
The company reported net profits of EGP8.14 million from July 2019 to the end of last March, compared to EGP17.24 million in the year-ago period, according to a bourse disclosure on Thursday.
In the meantime, sales fell to EGP 454.56 million in the nine-month period ended 31 March from EGP 548.4 million in the corresponding period a year earlier.
It is noteworthy to mention that in the first eight months of FY19/20, the company achieved net profits of EGP 4.61 million, down from EGP 13.59 million in the same period of FY18/19.
