Arab Finance: South Cairo and Giza Mills and Bakeries (SCFM) turned to profitability during the first quarter (Q1) of the fiscal year (FY) 2022/2023, according to financial indicators filed to the Egyptian Exchange (EGX) on Monday.

The company posted a net profit after tax of EGP 5.007 million during the three months that ended on September 30^th, compared to a net loss of EGP 10.578 million in the same period a year earlier.

Revenues surged to EGP 51.046 million in the July-September period from EGP 35.958 million the year before.

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.