North Cario Mills turns to profitability in Q1 FY 2022/2023
Updated 10/30/2022 2:50:00 PM
Arab Finance: North Cairo Mills Company (MILS) turned to profitability in the first quarter (Q1) of fiscal year (FY) 2022/2023, according to the company’s unaudited financial income statement filed to the Egyptian Exchange (EGX) on October 30th.
The company recorded a net profit after tax of EGP 5.249 million in Q1 FY 2022/2023, versus a loss of EGP 2.76 million in the same quarter of FY 2021/2022.
Moreover, the company achieved revenues of EGP 156.15 million in the three-month period ended September 30th, up from EGP 125.08 million in the Q1 FY 2021/2022 before.
North Cairo Flour Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based public shareholding company engaged in the food processing industry sector.
The company is primarily involved in the processing, packaging, storing, trading, and distribution of different types of grains, grain derivatives, and substitutes.
