North Cairo Flour Mills reports 11% drop in annual profit despite strong quarterly gains
Despite the annual profit dip, net profit for the quarter surged by 42.3% to EGP 10.409 million (US$335,000).
EGYPT – North Cairo Flour Mills and Bakeries Company (MILS) has released its financial results for the fiscal year ending June 30, 2025, reporting a net surplus of EGP 71.369 million (US$2.3 million).
This represents a year-on-year decline of approximately 11.2% compared to the EGP 80.395 million (US$2.6 million) posted in the previous fiscal year, according to a statement filed with the Egyptian Exchange.
Despite the annual dip, the company showed resilience in the first quarter of FY 2024/25. Net profit for the quarter surged by 42.3% to EGP 10.409 million (US$335,000), up from EGP 7.316 million (US$235,000) in the same period the year before.
This growth came despite a marginal dip in quarterly revenue, which stood at EGP 297.794 million (US$ 9.6 million), down slightly from EGP 299.242 million (US4 9.7 million), suggesting improved cost controls and operational efficiency.
During the nine-month period ending March 31, 2025, the company reported a net profit of EGP 38.171 million (US$1.23 million), down 14.27% from EGP 44.525 million (US$1.43 million) in the same period of the prior year.
Revenue also declined to EGP 902.249 million (US$29.1 million) from EGP 966.641 million (US$31.2 million), while earnings per share slipped to EGP 2.95 from EGP 3.70.
Established in 1967, North Cairo Flour Mills is a key player in Egypt’s grain value chain. Its core activities include manufacturing, importing, exporting, packaging, transporting, and distributing grain-based products and substitutes, including pasta and baked goods. The company also engages in real estate investment.
In FY 2024, the company recorded revenue of EGP 1.29 billion (US$41.6 million) and a net income of EGP 70.545 million (US$2.28 million). North Cairo Flour Mills continues to operate with no long-term debt, offers a dividend yield near 6.5%, and trades at a price-to-earnings ratio of roughly 10.
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