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North Cairo Mills switches to profitability in 9 months

North Cairo Mills switches to profitability in 9 months

ArabFinance: North Cairo Mills Company (MILS) has turned to profitability during the period from July 1st 2021 to March 31st 2022, according to financial indicators filed to the Egyptian Exchange (EGX) on April 26th.

The company recorded a net profit after tax of EGP 4.348 million in the July-March period, compared to a net loss of EGP 12.32 million in the comparative period a year earlier.

Additionally, revenue grew 16.25% year-on-year (YoY) to EGP 434.916 million in the nine-month period ended March 31st.

North Cairo Flour Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based public shareholding company engaged in the food processing industry sector.

The company is primarily involved in the processing, packaging, storing, trading, and distribution of different types of grains, grain derivatives, and substitutes.

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