Cairo – Mubasher: Middle Egypt Flour Mills posted an 11.8% year-on-year decline in its profits during the first ten months of fiscal year 2018/2019.

Net profits retreated to EGP 97.18 million from July 2018 to last April, compared to EGP 110.21 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

During the first nine months of FY18/19, the company’s net profit rose to EGP 93.9 million from EGP 93.4 million in the corresponding period a year earlier.

Sales slid to EGP 933 million during the nine-month period ended 31 March, compared to EGP 1.3 billion in the same period of FY17/18.