East Delta Flour eyes surplus in FY 2020/2021

ArabFinance: North Cairo Mills Company (MILS) announced the budget for the fiscal year (FY) 2020/2021, targeting a net surplus of EGP 10.277 million, according to June 7th statement filed to the Egyptian Exchange.

The targeted revenues for the FY2020/2021 are amounting to EGP 683.067 million compared to EGP 958.744 million targeted in FY2019/2020, the filing added.

In FY 2019/2020, the company eyed a net surplus of EGP 17.700 million.

In the first ten months of FY2019/2020, the company posted a net profit EGP 12.300 million, a 49% decrease from EGP 24.247 million achieved in the prior-year period.

Middle Egypt Flour Mill, a member of the Holding Company for Food Industries, is an Egypt -based milling company engaged in the manufacture, trade, import, export, packaging, warehousing, and distribution of grains and related products. The company also produces pasta, dough, fodder, yeast, and other related foodstuffs.

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