ArabFinance:  Upper Egypt Mills Company’s (UEFM) board of directors approved the estimated budget for the fiscal year 2021/2022 targeting revenue of EGP 715.391 million, according to the company’s statement filed to the Egyptian Exchange.

The mill company’s consolidated net profit leveled down to EGP 85.001 million in July-March 2021, compared to EGP 96.033 million in the prior-year period.

Upper Egypt Mills is primarily involved in the manufacturing, processing, import, export, warehousing, and distribution of different types of grains and grain derivatives. It holds a majority stake of 54.5% in a flour milling company and Kings Valley Mills Company.