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South Cairo Mills posts 73% loss increase in FY20/21

South Cairo Mills posts 73% loss increase in FY20/21
The revenues retreated to EGP 147.77 million in the year ended 30 June

Cairo - MubasherSouth Cairo and Giza Flour Mills and Bakeries incurred net losses of EGP 59.44 million in fiscal year (FY) 2020/2021, up by 72.99% year-on-year (YoY) from EGP 34.36 million. 

The revenues retreated to EGP 147.77 million in the year ended 30 June, compared to EGP 202.06 million a year earlier, the company said in a bourse disclosure on Thursday. 

In July, the company suffered net losses of EGP 3.75 million, up from nearly 575,000 in the same month in 2020.