Cairo – Mubasher: Upper Egypt Flour Mills reported an 11.48% year-on-year (YoY) decline in its consolidated net profits to EGP 85 million during the first nine months of fiscal year (FY) 2020/2021, compared to EGP 96.03 million, including minority shareholders’ rights.

The revenues fell to EGP 831.2 million in the nine-month period ended 31 March, compared to EGP 840.28 million in the prior-year period, the company said in a bourse disclosure on Wednesday.

As for standalone business, the company logged net profits of EGP 76.6 million in the first nine months of FY20/21, down from EGP 86.7 million in the corresponding period a year earlier.

During the first half (H1) of FY20/21, Upper Egypt Flour Mills registered net profits of EGP 52.36 million, down from EGP 65.81 million in H1 of FY19/20.