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Middle, West Delta Flour posts 16% profit decline

Middle, West Delta Flour posts 16% profit decline

ArabFinance: Middle and West Delta Flour Mills (WCDF) reported a 16% Year on Year decline in its net profit in the first three months of the fiscal year (FY) 2020/2021, according to the company’s October 27th  financial statements filed to the Egyptian Exchange.

Net profit after tax stood at EGP 29.363 million in the July-September period of 2020, compared to EGP 35.024 million achieved in prior-year 2019.

Earlier, the company announced the investment plan for the FY 2020/2021 of EGP 17 million will be self-financed.

MWDFM is an Egypt-based company primarily involved in the manufacture, processing, import, export, warehousing, and distribution of different types of grains and derivatives.

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