Cairo – Mubasher: North Cairo Flour Mills’ ordinary general meeting (OGM) has approved the budget draft for fiscal year 2017/2018.
The company targets a net profit of EGP 28.1 million for FY17/18, compared to an estimated budget of EGP 22.4 million for the current fiscal year, a statement to the stock market said on Thursday.
Furthermore, the OGM has adopted an investment budget worth EGP 14 million for FY17/18.
The company also plans to increase sales in FY17/18 to EGP 2.1 billion, compared to expected sales worth EGP 1.8 billion in FY16/17.
The stock fell on Wednesday by 0.3% to EGP 30.
