Middle and West Delta Flour Mills’ profits soar 190% YoY in H1 FY2023/24 in Egypt

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Net profits after tax jumped to EGP 156.602 million in H1 of the current FY, up from EGP 82.404 million over the same half a year earlier

Staff Writer, Arab Finance

January 18, 2024

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Middle and West Delta Flour Mills (WCDF) posted a 190% year-on-year (YoY) hike in its net profits after tax for the first half of fiscal year (FY) 2023/2024, according to the unaudited financial statement filed to the Egyptian Exchange (EGX) on January 17th.

Net profits after tax jumped to EGP 156.602 million in H1 of the current FY, up from EGP 82.404 million over the same half a year earlier.

Meanwhile, revenues saw a 141% yearly surge in the July-December period of 2023, hitting EGP 1.118 billion, compared to EGP 791.292 million.

The EGX-listed company is engaged in the manufacture, processing, import, export, warehousing, and distribution of different types of grains and derivatives.

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