Cairo – Mubasher: North Cairo Flour Mills reported a 51.41% decline in its profits for the fourth quarter of 2015/16, according to a bourse filing.

Q4 net profits thus reached EGP 6.85 million ($769,550) compared with EGP 14.10 million ($1.58 million) for the year-ago quarter.

Over the fiscal year 2015/16, the company registered EGP 20.13 million ($2.26 million) profits versus EGP 32.08 million ($3.60 million) profits a year earlier.

FY15/16 sales stood at EGP 1.414 billion, lower 22.9% year-over-year from EGP 1.834 billion.

The company’s fiscal year starts on the first of July.