Egyptian-based Alexandria Flour Mills’ profits surge 78.3% in Q1 2024

EGYPT – Alexandria Flour Mills (AFMC), a leading producer and reliable source of wheat flour in Egypt has reported a 78.3% year-on-year (YoY) growth in net profits after tax for the first half (H1) of fiscal year (FY) 2023/2024, according to financial indicators posted on January 30th.

Alexandria Flour Mills is a public company, listed on Egyptian Exchange (EGX) since April 1997.

From the financial statement, net profits after tax grew to EGP 30.916 million (US$999,000) during the financial period from EGP 17.341 million (US$560,000).

Meanwhile, the company’s revenues rose to EGP 151.292 million (US$4.9M) from EGP 114.473 million (US$3.7M).

With over 40 years in operations, Alexandria Flour Mills operates in the manufacture, trade, import and export, storage, fumigation and maintenance, packaging, processing, and distribution of grain and its substitutes.

The company specializes in flour milling technology. They have a strong focus on flour mills and are known for their expertise in advanced automation and excellent customer service.

The company is renowned for a range of products such as 72% and 82% extraction wheat flour, pasta, couscous, and various baked goods including doughnuts, jams, halva, and biscuits.

Additionally, the company is engaged in the production of feed and its components, yeasts, ice, cooling, freezing, and packaging supplies. 

Alexandria Flour Mills’ profit grew 97% in 3 months for the QI 2023/2024

In October 2023, the company’s unaudited financial income statement filed to the Egyptian Exchange (EGX) posted a 96.9% year-on-year (YoY) growth in net profit for the first three months of Q1 of fiscal year (FY) 2023/2024.

According to the statement, net profit after tax grew to EGP 16.577 million (US$536,000) in the three-month period that ended September 30th, 2022, from EGP 8.417 million (US$272,000) in the same period of FY 2022/2023.

The company generated revenues of EGP 76.681 million (US$2.5M)  in Q1 FY 2023/2024, up by 35.2% YoY from EGP 56.712 million (US$1.8M) in the Q1 FY 2022/2023.

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