Cairo – Mubasher: Alexandria Flour Mills’ audited financial statements have shown a 44.6% year-on-year profit decline during the fiscal year 2018/2019.

The company’s net profit reached EGP 26.58 million in FY18/19, compared to EGP 48.06 million in the year-ago period, according to a bourse statement released on Thursday. 

Last year, Alexandria Mills’ revenue went down to EGP 210.8 million, from EGP 338.9 million the year before.

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.