ArabFinance: Upper Egypt Mills Company’s (UEFM) standalone net profit leveled down to EGP 76.625 million in July-March 2021, compared to EGP 86.754 million in the prior-year period, according to the company’s statement to the Egyptian Exchange on May 5th.
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.
