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South Cairo Mills posts 32% lower loss in FY19/20 initial results

South Cairo Mills posts 32% lower loss in FY19/20 initial results
The company’s revenues fell to EGP 193.99 million
South Cairo & Giza Flour Mills
SCFM
-100.00% 13.11 -13.04

Cairo – Mubasher: The unaudited financial results of South Cairo and Giza Flour Mills and Bakeries reported net losses of EGP 31.1 million during fiscal year 2019/2020, down by 32% year-on-year (YoY) from EGP 45.6 million.

The company’s revenues fell to EGP 193.99 million in the 12-month period ended on 30 June from EGP 200.04 million a year earlier, according to a bourse disclosure on Thursday.

It is worth noting that during the first nine months of FY19/20, the company incurred net losses of EGP 24.71 million, down from EGP 25.1 million in the year-ago period.