By Waleed Abd El-Salam
Cairo – Mubasher: North Cairo Flour Mills has apportioned EGP19 million for developing the company-owned mill, El Fouad, said a first-hand source in the company preferred to remain anonymous.
The move is expected to be completed within a year and half, stated the source, adding that some items of 2015/16 sheet balance will be transferred into 2016/17 budget.
Earlier, the company lowered the estimated value for 2015/16 balance sheet to EGP14.5 million from EGP43.2 million.
Moreover, it announced targeting a net profit after tax of EGP2.7 million in 2016/17 budget estimates.
