South Cairo and Giza Mills posts 85% loss drop in 6 months
Updated 1/30/2022 11:11:00 AM
ArabFinance: South Cairo and Giza Mills and Bakeries (SCFM) announced that its net profit after tax fell by 85% year-on-year (YoY) for the six-month period ended December 31st 2021, according to the company’s unaudited financial indicators filed to the Egyptian Exchange (EGX).
The company suffered a net loss after tax of EGP 19.15 million in the July-December period of 2021, versus a loss of EGP 22.57 million in the same period of 2020.
Revenues jumped by 92% to EGP 72.74 million in the first six months of fiscal year (FY) 2021/2022 from EGP 79.49 million in the July-December period of 2020.
South Cairo and Giza Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based joint-stock milling company engaged in the processing, trading, importing and exporting, packaging, warehousing, and distributing grains and its related products. Its product portfolio includes flour, pasta, bakery products, and fodder.
