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Upper Egypt Mills reports 20% profit decline

Upper Egypt Mills reports 20% profit decline

ArabFinance: Upper Egypt Mills Company reported a 20% Year on Year decline in its net profit in the second half of 2020, according to the company’s February 1st financial statements filed to the Egyptian Exchange (EGX).

Net profit reached EGP 48.536 million in the July-December period in 2020, compared to EGP 60.741 million achieved in the prior-year period.

Upper Egypt Mills 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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