North Cairo Mills posts profit decline in FY 2020/2021
Updated 9/30/2021 12:24:07 PM
ArabFinance: North Cairo Mills Company (MILS) announced that its board of directors has approved the audited financial results for fiscal year (FY) 2020/2021, according to a statement filed to the Egyptian Exchange (EGX).
The company has achieved a net profit after tax of EGP 1.466 million in FY 2020/2021, down by 91.7% from EGP 17.429 million in FY 2019/2020.
Meanwhile, the company’s revenues fell by 13.64% year-on-year (YoY) to EGP 552.16 million in FY 2020/2021, compared to EGP 639.37 million in FY 2019/2020.
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.
