Cairo – Mubasher: North Cairo Flour Mills on Sunday reported a year-on-year profit growth of 147% in the first nine months of its fiscal year 2016/2017.
Profits surged to EGP 32.7 million ($1.81 million) in the nine months ended 31 March 2017, from EGP 13.2 million ($73,000) in the same period the year before, according to a filing to the Egyptian Exchange (EGX).
Revenues rose to EGP 1.2 billion in the period from July to March, compared to EGP 1.04 billion in the corresponding period of the previous fiscal year.
The company had previously posted EGP 15.54 million in net profits for the first half of its fiscal year ended 31 December 2016, up 101% from EGP 7.73 million in the year-ago period.
By 12:02 pm Cairo time, North Cairo Flour Mills’ stock dropped 3.68% to EGP 26.69 on the EGX.
