Cairo – Mubasher: Upper Egypt Flour Mills registered consolidated net profits of EGP 27.32 million in the first quarter (Q1) of fiscal year 2020/2021, down by 13% year-on-year (YoY) from EGP 31.42 million.

The company’s revenues fell to EGP 246.8 million in the three-month period ended 30 September, compared to EGP 251.45 million in the corresponding period a year earlier, according to a bourse disclosure on Monday.

As for standalone business, the company previously reported net profits of EGP 25.36 million in the July-September period, down from EGP 29.28 million in the year-ago period.

During FY19/20, the company logged EGP 143.67 million in net profits, compared to EGP 174.13 million a year earlier.