The board of Alexandria Flour Mills & Bakeries endorsed financial results for Q1-14/15, showing that net profit rose slightly by 0.62% to EGP 12.8 million, compared with EGP 12.7 million in the same period a year earlier.
The company’s revenues totaled EGP 337.7 million, compared with EGP 340.6 million in Q1-13/14.
FY13/14 net profit had amounted to EGP 38.6 million, jumping 98% year-over-year from EGP 19.5 million.
The company’s extraordinary general meeting had endorsed in August reducing the stock par value with the aim of complying with listing regulations and rules.
The company’s board has recently approved the par value reduction to EGP 5 from EGP 10; thus raising total shares to 8 million from 4 million.
The company is capitalized at EGP 40 million, divided into 4 million shares at EGP 10 par value each.