ArabFinance: Upper Egypt Mills Company (UEFM) posted a consolidated net profit after tax of EGP 55.59 million for the first half (H1) of fiscal year (FY) 2021/2022, according to the company’s consolidated financial income statement filed to the Egyptian Exchange (EGX).

It is worth noting that the company achieved a consolidated net profit after tax of EGP 52.36 million in H1 FY 2020/2021.

The company generated consolidated operating revenue of EGP 676.32 million in H1 FY 2021/2022, up from EGP 207.86 million in H1 FY 2020/2021.

Upper Egypt Mills is primarily involved in the manufacturing, processing, import, export, warehousing, and distribution of different types of grains and grain derivatives. It holds a majority stake of 54.5% in a flour milling company and Kings Valley Mills Company.