Cairo – Mubasher: Upper Egypt Flour Mills posted a 20% year-on-year retreat in its consolidated profits during the first nine months of fiscal year 2018/2019.
Net profits stood at EGP 118.82 million from July 2018 to last March, compared to EGP 148.68 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.
Year-on-year, the company’s revenues fell to EGP 887.12 million in the nine-month period ended 31 March from EGP 1.11 billion.
As for standalone business, the company previously reported a net profit of EGP 107.71 million from July 2018 to last March, compared to EGP 143.39 million in the same period a year earlier.
Standalone revenues plunged to EGP 552.49 million for the nine months ended 31 March from EGP 788.13 million in the corresponding period a year earlier.
