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Upper Egypt Mills' standalone profits up 8.9% YoY in 9 months

Upper Egypt Mills' standalone profits up 8.9% YoY in 9 months

ArabFinanceUpper Egypt Mills Company (UEFM) has reported an 8.9% year-on-year (YoY) increase in standalone net profit after tax for the first nine months of fiscal year (FY) 2021/2022, according to a filing to the Egyptian Exchange (EGX) on April 28th.

The company's net profit after tax stood at EGP 83.51 million in the period from July 1st 2021 to March 31st 2022, up from EGP 76.625 million in the same period a year earlier, 

Current operating revenue grew to EGP 622.986 million in the nine-month ended period March 31st from EGP 564.935 million in the FY-ago period.

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.

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