East Delta Flour eyes EGP 63M surplus in FY 2020/2021
Updated 6/1/2020 9:43:00 AM
ArabFinance: East Delta Flour Mills (EDFM) announced the budget for the fiscal year (FY) 2020/2021, targeting a net surplus of EGP 63 million, according to May 31st statement filed to the Egyptian Exchange.
The company allocated EGP 38.5 million for its annual investment plan, the filing added.
In FY 2019/2020, the company eyed a net surplus of EGP 62 million.
The company reported a net profit of EGP 76.115 million in the nine-month period ended March 30th, a 22% Year on Year decline from EGP 97.637 million achieved.
The Egypt-based company is engaged in the manufacture, processing, warehousing, packaging, import, export, and distribution of different types of grains, grain derivatives, and substitutes. The company also produces such products as bread and pasta.
