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South Cairo and Giza Mills loss widens

South Cairo and Giza Mills loss widens

ArabFinance: South Cairo and Giza Mills and Bakeries (SCFM) reported a net loss of EGP 54.217 million in the fiscal year (FY) 2020/2021, according to the company’s financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 58% when compared to EGP 34.366 million in FY2019/2020.

SCFM offered a public tender for property and liability insurance in order to insure its fixed and current assets in the fiscal year 2021/2022.

South Cairo and Giza Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based joint-stock milling company engaged in the processing, trading, importing and exporting, packaging, warehousing, and distributing grains and its related products. Its product portfolio includes flour, pasta, bakery products, and fodder.

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