North Cairo Mills Company (MILS) posted a 1,189.7% year-on-year (YoY) surge in net profits after tax for fiscal year (FY) 2021/2022, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on September 26th.

The company recorded a net profit after tax of EGP 18.906 million in FY 2021/2022, compared to EGP 1.465 million in FY 2020/2021.

Moreover, the company achieved revenues of EGP 598.85 million in the 12-month period ended June 30th, up from EGP 552.16 million in the FY before.

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.

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