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Upper Egypt Mills posts EGP 174m consolidated profit in FY18/19

Upper Egypt Mills posts EGP 174m consolidated profit in FY18/19
Revenues dropped to EGP 1.22 billion
Upper Egypt Flour Mills
UEFM
-3.41% 173.00 -6.10

Cairo – Mubasher: The consolidated financial statements of Upper Egypt Flour Mills recorded a 15% year-on-year profit retreat during fiscal year 2018/2019.  

Net profits slid to EGP 174.12 million during the twelve-month period ended 30 June, compared to EGP 205.2 million in FY17/18, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, revenues dropped to EGP 1.22 billion in FY18/19 from EGP 1.46 billion in the prior fiscal year.

During the first nine months of FY18/19, net profits of Upper Egypt Flour Mills declined to EGP 118.82 million from EGP 148.68 million in the year-ago period.