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Ajwa for Food Industries standalone loss rises

Ajwa for Food Industries standalone loss rises

ArabFinance: Ajwa for Food Industries (AJWA) reported a 5% Year on Year (YoY) rise in its standalone net loss for 2019, according to an April 30th disclosure filed to the Egyptian Exchange.

Standalone net loss reached EGP 34,643,260 in 2019, a rise from EGP 32,892,374 incurred a year earlier.

In the first nine months of 2019, the company suffered a net consolidated loss of EGP 52,890,608, compared to EGP 867,846 in the same period year ago, taking into account the minority rights.

Standalone loss reached EGP 24,867,571 in the same period of 2019, compared to EGP 23,753,349 in the corresponding period last year.

Ajwa, formerly Misr Gulf Oil Processing (MIGOP), is an Egypt-based company engaged in the manufacture and export of cooking oils and ghee. The company is part of Ajwa Group for Food Industries based in Jeddah, Saudi Arabia, which operates in the food industry through the Middle East, Africa, Europe, and the Far East.

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