Arab Finance: Upper Egypt Mills Company (UEFM) has reported a 17.6% year-on-year (YoY) surge in standalone net profits after tax in the fiscal year (FY) 2022/2023, according to a filing on September 20^th.

Standalone net profits came in at EGP 154.548 million in the last FY, up from EGP 131.440 million in the prior FY.

Meanwhile, total operation revenues hit EGP 1.219 billion in FY 2022/2023, compared to EGP 925.427 million a year earlier.

Upper Egypt Mills is primarily involved in the manufacturing, processing, import, export, warehousing, and distribution of different types of grains and grain derivatives. 

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