Arab Finance: Upper Egypt Mills Company (UEFM) has posted a 31.1% year-on-year (YoY) surge in consolidated net profits after tax in the fiscal year (FY) 2022/2023, according to the company's financial statement on September 24th.

The firm earned consolidated net profits of EGP 196.779 million last FY, up from EGP 150.142 million in the prior FY.

Total operating revenues came in at EGP 2.392 billion in FY 2022/2023, compared to EGP 1.521 billion a year earlier.

The company reported earlier a 17.6% YoY surge in standalone net profits after tax in the last FY.

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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