Upper Egypt Mills’ consolidated profits up 43% YoY in Q1 FY2023/24
Updated 11/28/2023 10:44:00 AM
Arab Finance: Upper Egypt Mills Company’s (UEFM) consolidated net profits after tax rose 42.6% year on year (YoY) in the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the company's financial statement on November 28th.
The firm garnered net profits of EGP 50.965 million in Q1 of the current FY, up from EGP 35.732 million in Q1 of the prior FY.
Total operating revenues came in at EGP 572.203 million in the July-September period, compared to EGP 39.661 million during the same period a year earlier.
The company reported earlier a 36.2% year-on-year (YoY) surge in standalone net profits after tax in Q1 of FY 2023/2024.
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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