North Cairo Mills widens losses in Q1 FY 2021/2022
Updated 10/26/2021 11:32:04 AM
ArabFinance: North Cairo Mills Company (MILS) announced that its board of directors has approved the financial results for the first quarter (Q1) of fiscal year (FY) 2021/2022, according to a statement filed to the Egyptian Exchange (EGX).
The company has incurred a net loss after tax of EGP 2.61 million in the period from July 1st until September 30th, 2021, up from EGP 1.27 million in Q1 FY 2020/2021.
Meanwhile, the company’s revenues fell by 7.05% year-on-year (YoY) to EGP 132.26 million in Q1 FY 2021/2022, from EGP 142.29 million.
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.
