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General Company for Silos’ board endorses FY 2022/2023 estimated budget

General Company for Silos’ board endorses FY 2022/2023 estimated budget

Arab Finance: The board of directors of General Company for Silos and Storage (GSSC) has endorsed the estimated budget for fiscal year (FY) 2022/2023, according to a statement filed to the Egyptian Exchange (EGX) on June 29th.

Under the FY 2022/2023 budget, the company targets achieving a net profit after tax of EGP 98.192 million and seeks EGP 66 million in investments.

Moreover, the board has approved the company’s financial position for the first 11 months of FY 2021/2022.

As per the financial income statement, the company has recorded a net profit of EGP 103.038 million in the 11-month period of FY 2021/2022, compared to EGP 94.27 million in the same period of FY 2020/2021.

 GCSS is an Egypt-based company engaged in the food processing industry sector.

The company is primarily involved in the manufacture, trade, import, export, storage, package, and distribution of different types of grain and its derivatives, foodstuff, and yeast, as well as animal feed and its components.

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