South Cairo and Giza Mills swings to profitability in 6 months

South Cairo and Giza Mills and Bakeries (SCFM) achieved net profits after tax of EGP 8.35 million during the first half of fiscal year (FY) 2022/2023, versus net losses of EGP 19.16 million during the July-December period of 2021, according to financial indicators filed to the Egyptian Exchange (EGX) on January 30th.

The company’s sales grew to EGP 106.85 million in the July-December period of last year from EGP 72.75 million during the corresponding period the year before.

South Cairo and Giza Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based joint-stock milling company engaged in the processing, trading, importing and exporting, packaging, warehousing, and distributing grains and its related products. Its product portfolio includes flour, pasta, bakery products, and fodder