Arab Finance: Alexandria Flour Mills (AFMC) posted a 96.9% year-on-year (YoY) growth in net profit for the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the company’s unaudited financial income statement filed to the Egyptian Exchange (EGX) on October 31st.

Net profit after tax grew to EGP 16.577 million in the three-month period ended September 30th, 2022, from EGP 8.417 million in the same period of FY 2022/2023.

The company generated revenues of EGP 76.681 million in Q1 FY 2023/2024, up by 35.2% YoY from EGP 56.712 million in the Q1 FY 2022/2023.

Alexandria Flour Mills is an Egypt-based company that operates in the manufacture, trade, import and export, storage, fumigation and maintenance, packaging, processing, and distribution of grain and its substitutes.

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