South Cairo and Giza Mills loss increases

Updated 1/31/2021 12:22:00 PM

ArabFinance:  South Cairo and Giza Mills and Bakeries reported a 17% Year on Year increase in its net loss in the second half of 2020, according to the unaudited financial statements filed to the Egyptian Exchange.

Net loss stood at EGP 22.578 million in July-December 2020, compared to EGP 19.258 million incurred in the prior-year period.

In November 2020, the company suffered a net loss of EGP 5.353 million, an 18% decline from EGP 4.538 incurred in November 2019.

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.