South Cairo and Giza Mills swings to profitability in FY 2021/2022
Updated 7/28/2022 9:51:00 AM
Arab Finance: South Cairo and Giza Mills and Bakeries (SCFM) has turned into profitability during fiscal year (FY) 2021/2022 ended June 30th, according to the financial statement filed to the Egyptian Exchange (EGX) on July 28th.
The company has reported a net profit after tax of EGP 101,000 in the FY ended June 30th, compared to a net loss of EGP 59.44 million the year before.
Revenues soared to EGP 186.077 million during the period in FY 2021/2022 from EGP 147.771 million a FY earlier.
South Cairo and Giza Mills is an Egypt-based joint-stock milling company engaged in the processing, trading, importing and exporting, packaging, warehousing, and distributing of grains and their related products. Its product portfolio includes flour, pasta, bakery products, and fodder.
