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General for Silos achieves 15% profit increase

General for Silos achieves 15% profit increase

ArabFinanceGeneral Company for Silos and Storage (GCSS) (GSSC) reported a 15 % Year on Year rise in its net profit for the first quarter of the fiscal year (FY) 2020/2021, according to the company’s financial statements filed to the Egyptian Exchange.

Net profit after tax stood at EGP 7,739,042 in the July-September period of 2020, compared to EGP 6,726,359 achieved in the corresponding period a year earlier.

The company posted a 4.5% YoY decline in its net profit for FY 2019/2020.

GCSS is an Egypt-based company engaged in the food processing industry sector. It is primarily involved in the manufacture, trade, import, export, storage, package, and distribution of different types of grain, grain derivatives, foodstuff, and yeast, as well as animal feed and its components.

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