Cairo – Mubasher: The financial indicators of Alexandria Flour Mills showed a 69% year-on-year decline in profits during the first quarter of fiscal year 2019/2020, pushed by lower sales.

The profits retreated to EGP 2.6 million during the July-September 2019 period when compared to EGP 8.5 million in the corresponding period a year ago, according to a bourse filing on Tuesday.

Meanwhile, the company’s sales fell to EGP 48.3 million in Q1-19/20 from EGP 62.2 million in the corresponding quarter in 2018.  

It is worth pointing out that during the period from July 2018 to June 2019, Alexandria Mills’ profit decreased to EGP 26.58 million when compared to EGP 48.06 million in the year-ago period.