Cairo – Mubasher: Upper Egypt Flour Mills on Sunday posted a 40.58% hike in profits for fiscal year 2016/2017, compared to the prior fiscal year.

The company achieved profits of EGP 155.34 million in FY16/17 from EGP 110.5 million in FY15/16, according to a filing to the Egyptian Exchange (EGX).

Revenues rose to EGP 3.13 billion in FY16/17 from EGP 2.84 billion in FY15/16.

In the nine months ended March 2017, profits surged 73% to EGP 171.42 million, compared to EGP 99.06 million in the corresponding period of 2016.

By 12:08 pm Cairo time, Upper Egypt Mills’ stock shed 0.25% to EGP 124.9, with a turnover of EGP 56,200 exchanged through 450 transactions.