Middle and West Delta Flour Mills mulls setting up mall
Updated 9/6/2021 9:25:56 AM
ArabFinance: Middle and West Delta Flour Mills (WCDF) is currently considering the establishment of a mall, with the aim of boosting its revenues, a source at the company told Al Mal Newspaper.
The mall will be built on a land plot owned by the company in El Mahla El Kobra, Gharbia Governorate, the source added.
The company will hold an extraordinary general meeting (EGM) in October to vote on adding the activity of malls’ management and establishment to its business, the source said.
This step will pave the way for the company to begin the required procedures to obtain the necessary licenses and the approval of the Financial Regulatory Authority (FRA), the source noted.
It is worth noting that Middle and West Delta Flour Mills posted a net profit of EGP 191.018 million for fiscal year (FY) 2020/2021, down by 6% from EGP 180.727 million in FY 2019/2020.
The EGX-listed company is engaged in the manufacture, processing, import, export, warehousing, and distribution of different types of grains and derivatives.
