Cairo – Mubasher: The ordinary general meeting (OGM) of South Cairo and Giza Flour Mills and Bakeries decided to pay remuneration worth EGP 17.4 million to the firm’s board and employees for the fiscal year 2018/2019.
Accordingly, the losses will reach EGP 45.6 million in the adjusted financial statements, according to a bourse statement on Monday.
Moreover, the OGM has approved the board’s report for the last fiscal year as well as the financial statements of the period.
Additionally, the extraordinary general meeting (EGM) consented to continue the company’s business for one year and to prepare an action plan to further promote its performance.
Meanwhile, the Egyptian Exchange (EGX) has resumed the trading on South Cairo Mills’ stock during Monday’s trading session at 12:40 pm Cairo local time.
It is worth pinpointing that during the twelve-month period ended 30 June, the company incurred losses of EGP 28.21 million, against a profit of EGP 25.9 million in FY17/18.
