Cairo – Mubasher: The unaudited financial results of Middle and West Delta Flour Mills posted a 9.3% year-on-year profit retreat in the first quarter of fiscal year 2019/2020.

Net profits went down to EGP 35.02 million in the three-month period ended 30 September, compared to EGP 38.62 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.

Meanwhile, the company’s revenues retreated to EGP 254.66 million in the July-September period of 2019 from EGP 268.07 million in the same period a year earlier.

It is worth mentioning that during FY18/19, the company’s net profit plunged to EGP 194.79 million from EGP 290.77 million a year earlier.