Cairo – Mubasher: Middle Egypt Flour Mills recorded a 7.9% year-on-year profit decline during fiscal year 2018/2019, the company's unaudited financial results showed. 

Net profits slid to EGP 135.2 million in the twelve-month period ended 30 June, compared to EGP 146.9 million a year earlier, according to a filing to the Egyptian Exchange (EGX) on Thursday.

Year-on-year, the company’s revenues retreated to EGP 1.21 billion in FY18/19 from EGP 1.74 billion.

During the first eleven months of FY18/19, the Egyptian firm’s net profits fell to EGP 123.8 million, compared to EGP 131.5 million in the year-ago period.