Egypt-based East Delta Flour Mills reports 18% profit decline

ArabFinance: East Delta Flour Mills (EDFM) posted a 18% Year on Year decline in its net profit in the fiscal year (FY) 2019/2020, according to July 26^th financial statements filed to the Egyptian Exchange.

Net profit reached EGP 120.496 million ended June 30^th, compared to EGP 147.648 million achieved a year earlier.

In the first half of FY 2019/2020, the company posted net profit of EGP 49.939 million, a 24% profit decrease from EGP 65.917 million achieved in H1 2018/2019.

East Delta Flour Mills Co 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.