Cairo – Mubasher: South Cairo and Giza Flour Mills and Bakeries’ board of directors has decided to amend the company’s statute to allow it to utilise the legal reserve in covering losses.
The board noted that the company made a surplus of EGP 2 million in August, compared to EGP 468,000 for August 2015, according to a bourse statement.
South Cairo Flour earlier posted a net loss of 14.9 million for the fiscal year 2015-2016, compared to a net profit of EGP 9.2 million for FY14-15.
