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Alexandria Flour Mills targets EGP 20M in 2019/20

Alexandria Flour Mills targets EGP 20M in 2019/20

ArabFinance: Alexandria Flour Mills Company (AFMC) announced in a statement sent to EGX, the Board of Directors (BoD) was held on April 16.

The company's BoD approved unaudited financial results for the fiscal period ending March 31, 2019, which revealed posting profits of EGP 23.845 million, versus net profits of EGP 36.968 million a year earlier, representing 35.5% decline.

Moreover, the BoD approved 2019/2020 estimated budget with targeted net profits of EGP 20 million, on April 17, 2019.

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