South Cairo and Giza Mills cuts losses in November
Updated 12/27/2021 9:19:32 AM
ArabFinance: South Cairo and Giza Mills and Bakeries (SCFM) announced that its board of directors has approved the company’s operating results for November 2021, according to a statement filed to the Egyptian Exchange (EGX).
The results showed that the company has incurred a loss estimated at EGP 3.235 million in November 2021, versus a loss of EGP 5.353 million in November 2020, the company added.
It is worth noting that South Cairo and Giza Mills and Bakeries incurred a net loss of EGP 54.217 million in fiscal year (FY) 2020/2021, rising by 58% from EGP 34.366 million in FY 2019/2020.
South Cairo and Giza Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based joint-stock milling company engaged in the processing, trading, importing and exporting, packaging, warehousing, and distributing grains and its related products. Its product portfolio includes flour, pasta, bakery products, and fodder.
