Cairo – Mubasher: Alexandria Flour Mills posted a 34.2% year-on-year profit decline during fiscal year 2018/2019.

Net profits totalled EGP 31.6 million from July 2018 to last June, compared to EGP 48.06 million in the prior-year period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, revenues slid to EGP 210.8 million in FY18/19, compared to EGP 338.9 million a year earlier.

During the first nine months of FY18/19, the company’s net profits reached EGP 23.84 million, compared to EGP 36.96 million in the corresponding period a year ago.

Sales retreated to EGP 160.7 million in the nine-month period ended 31 March from EGP 282.5 million in the prior-year period.