East Delta Flour Mills sees net profit decline of 22% in FY 2020/2021
East Delta Flour Mills (EDFM) announced the budget for the fiscal year (FY) 2020/2021
By Staff Writer, Arab Finance
ArabFinance:East Delta Flour Mills (EDFM) announced the budget for the fiscal year (FY) 2020/2021, targeting net surplus of EGP 63 million, according to May 31ststatement filed to the Egyptian Exchange.
In addition, it allocated EGP 38.5 million for its investment plan.
In FY 2019/2020, the company targeted achieving a net surplus of EGP 62 million.
The company reported a net profit of EGP 76.115 million ended March 30th, a 22% Year on Year decline from EGP 97.637 million achieved in the corresponding period.
EDFM is an Egypt-based company engaged in the manufacture, processing, warehousing, packaging, import, export and distribution of different types of grains, grain derivatives and substitutes. The company also produces such products as bread and pasta.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.