EGYPT – Alexandria Flour Mills, a leading Egypt-based company in the grain and food processing sector, has reported a 34.3% year-on-year (YoY) increase in net profits after tax for the fiscal year 2023/2024, according to its financial indicators.
The company’s net profits surged to EGP 55.797 million (US$ 1.809 million) after tax, compared to EGP 41.545 million (US$ 1.347 million) in the previous fiscal year. This notable growth reflects Alexandria Flour Mills’ robust operational efficiency and strategic market positioning amidst challenging economic conditions.
Additionally, the company’s sales saw a substantial rise, reaching EGP 304.804 million (US$ 9.882 million), up from EGP 257.235 million (US$ 8.339 million) in the prior year.
The significant increase in sales is a testament to the growing demand for Alexandria Flour Mills’ diverse product portfolio and the effectiveness of its market expansion strategies.
The milling giant operates extensively in the manufacture, trade, import and export, storage, fumigation and maintenance, packaging, processing, and distribution of grain and its substitutes.
The company’s diverse product portfolio, which includes bakery items, pasta, jams, sweetness, tahini, biscuits, and other foodstuffs, is a key factor in its financial success. This diversity ensures stability and resilience in the face of changing market conditions.
The financial success of Alexandria Flour Mills in FY 2023/2024 is attributed to strategic investments in production capacity, innovative product development, and expansion into new markets.
The company continues to leverage its expertise in grain and food processing to meet consumers’ evolving needs and capitalize on emerging opportunities in the industry.
With a major shareholder base, including the Holding Company for Food Industries and Union workers shareholders, Alexandria Flour Mills is well-positioned to sustain its growth trajectory.
The positive financial results come as the global grain and food processing industry navigates supply chain disruptions, fluctuating raw material prices, and changing consumer preferences.
Companies in this sector are increasingly focusing on innovation, sustainability, and digital transformation to stay competitive and meet regulatory requirements.
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