North Cairo Mills swings to loss
Updated 2/1/2021 1:26:24 PM
ArabFinance: North Cairo Mills Company (NCMC) incurred a net loss of EGP 9.877 million in the second half (H2) of 2020, according to the company’s financial statements filed to the Egyptian Exchange.
In July- December 2019, the company posted a net profit of EGP 1.682 million.
NCMC attributed the loss to the increase of operating costs as well as the rise of grinding the flour.
The company distributed annual cash dividends of EGP 0.50 per share on December 20th.
North Cairo Flour Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based public shareholding company engaged in the food processing industry sector.
The company is primarily involved in the processing, packaging, storing, trading, and distribution of different types of grains, grain derivatives, and substitutes.
