Egypt: General Company for Silos registers 25.39% YoY profits climb in FY2022/23

The General Company for Silos and Storage’s (GSSC) net profits after tax rose 25.39% year on year (YoY) in the fiscal year (FY) 2022/2023, according to the unaudited and adjusted financial indicators sent to the Egyptian Exchange (EGX) on October 16th.

Net profits after tax amounted to EGP 141.543 million in FY 2022/2023, compared to EGP 112.883 million in the prior FY.

Meanwhile, the firm generated EGP 1.076 billion in revenues, up 35.45% YoY from EGP 794.660 million in FY 2021/2022.

GCSS is an Egypt-based company that operates in the food processing industry sector, particularly in the manufacture, trade, import, export, storage, packaging, and distribution of different types of grain and its derivatives, foodstuff, and yeast, as well as animal feed and its components.