Arab Finance: South Cairo and Giza Mills and Bakeries (SCFM) saw a 251% year-on-year (YoY) hike in its net profits after tax during the first quarter (Q1) of fiscal year (FY) 2023/2024, hitting EGP 12.547 million, compared to EGP 5.007 million, according to the unaudited financial statement sent to the Egyptian Exchange (EGX) on October 25th.

The firm generated EGP 63.785 million in net sales during the July-September period of this year, 125% up from EGP 51.046 million during the Q1 of FY 2022/2023.

The company’s services are manufacturing, trading, importing, exporting, storing, fumigation maintaining, packing, transporting, and distributing grains, its products and alternatives, bakeries, pasta, general food stuffs, ferments, ice cooling, and freezing. This is in addition to packing and covering ware, capital equipment, and spare parts required or necessary to the objectives.

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