ArabFinance: Upper Egypt Mills Company’s (UEFM) net profit levelled down to EGP 52.36 million in 2020, compared to EGP 65.81 million in 2019, according to the company’s statement to the Egyptian Exchange on February 25th.
Earlier, the company reported a 20% Year on Year decline in its net profit in the second half of 2020, recording EGP 48.53 million.
Upper Egypt Mills is primarily involved in the manufacture, processing, import, export, warehousing, and distribution of different types of grains and grain derivatives, as well as baking bread. Upper Egypt Flour Mills holds a majority stake of 54.5% in a flour milling company and Kings Valley Mills Company.
