Cairo – Mubasher: The ordinary general meeting (OGM) of North Cairo Flour Mills on Sunday announced that it will discuss the estimated budget for fiscal year 2017/2018 on 24 May, according to a bourse filing.

The company is targeting net profits amounting to EGP 28.1 million in FY17/18, compared to EGP 22.4 million in FY16/17.

The targeted investments are worth EGP 14 million, compared to EGP 39 million in FY16, the statement showed.

The company aims to increase sales to EGP 2.1 billion in FY17/18 from EGP 1.8 billion in expected sales in FY16/17.

North Cairo Flour Mills’ net profits reached EGP 32.7 million in the period between July and March 2017, compared to EGP 13.2 million in the same period last year.