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Upper Egypt Mills records 13% profit decline

Upper Egypt Mills records 13% profit decline

ArabFinance:  Upper Egypt Mills Company reported a 13% Year on Year decrease in its consolidated net profit in the first three months of the fiscal year 2020/2021, according to the company’s November 30th financial statements filed to the Egyptian Exchange.

Consolidated net profit after tax stood at EGP 27,327,639 in the July-September 2020, compared to EGP 31,428,051 achieved in the prior-year period.

The company distributed annual cash dividends of EGP 10 per share on December 16th.

UEMC is primarily involved in the manufacture, processing, import, export, warehousing, and distribution of different types of grains and grain derivatives, as well as baking bread. Upper Egypt Flour Mills holds a majority stake of 54.5% in a flour milling company and Kings Valley Mills Company.

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