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Egypt's Ajwa reports 256% loss increase

Egypt's Ajwa reports 256% loss increase

ArabFinance: Ajwa for Food Industries-Egypt (AJWA) reported a 256% Year on Year rise in its consolidated net loss in 2019, according to the company's June 15th financial statements filed to the Egyptian Exchange.

Consolidated net loss stood at EGP 107,323,112 in 2019, compared from EGP 30,112,716 incurred in 2018.

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

Ajwa, formerly Misr Gulf Oil Processing, 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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