UEFM
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.