Arab Finance: Upper Egypt Mills Company (UEFM) has posted a 36.2% year-on-year (YoY) surge in standalone net profits after tax in the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the company's financial statement on November 13^th.

The firm earned standalone net profits of EGP 42.744 million in Q1 of the current FY, up from EGP 31.381 million in Q1 of the prior FY.

Total operating revenues came in at EGP 270.294 million in the July-September period, compared to EGP 244.031 million during the same period a year earlier.

The company reported earlier a 17.6% YoY surge in standalone net profits after tax in the last FY.

Upper Egypt Mills is primarily involved in the manufacturing, processing, import, export, warehousing, and distribution of different types of grains and grain derivatives.

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