Cairo – Mubasher: The net profits of Middle and West Delta Flour Mills retreated by 16.2% year-on-year (YoY) to EGP 29.3 million during the first quarter (Q1) of fiscal year 2020/2021, compared to EGP 35 million.

Sales amounted to EGP 258.2 million in the July-September period, up from EGP 254.6 million in the year-ago peiord, the company said in a bourse disclosure on Tuesday.

The profit drop was attributed to the 28% YoY fall in the volume of wheat.

During FY19/20, the company achieved net profits of EGP 180.07 million, down from EGP 194.79 million a year earlier.