Middle and West Delta Flour Mills reports 107% profit surge in Q1 FY 2021/2022
Updated 10/31/2021 1:23:27 PM
ArabFinance: Middle and West Delta Flour Mills (WCDF) announced that its board of directors has approved the company’s financial results for the first quarter (Q1) of fiscal year (FY) 2021/2022, according to a statement filed to the Egyptian Exchange (EGX).
The company’s net profit after tax jumped by 107% year-on-year surge in Q1 FY 2021/2022 to EGP 31.33 million from EGP 29.66 million.
Revenues surged by 115% to EGP 297.60 million in Q1 FY 2021/2022 from EGP 258.24 million in Q1 FY 2020/2021.
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.
