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Ajwa's standalone loss shrinks

Ajwa's standalone loss shrinks

ArabFinance: Ajwa for Food Industries-Egypt (AJWA) reported a 77% Year on Year decline in its standalone net loss in Quarter one (Q1), according to the company's June 21st financial statements filed to the Egyptian Exchange.

Standalone net loss stood at EGP 6,676,821 in Q1 2020, compared to EGP 30,112,716 incurred in Q1 2019.

In 2019, the company suffered consolidated net loss of EGP 107,323,112, a 256% increase 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 posted 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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