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Cairo Oils reports 42% loss increase

Cairo Oils reports 42% loss increase

ArabFinance: Cairo Oils and Soap (COSG) reported a 42% Year on Year increase in its net loss in the first half (H1) of 2020, according to the company’s August 13th financial statements filed to the Egyptian Exchange.

Net loss stood at EGP 36,090,179 in H1 of 2020, compared to EGP 25,344,821 achieved in H1 2019.

The company's extraordinary general meeting approved, on April 11th, continuum despite losing half of the shareholders' rights.

Cairo for Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export and distribution of different types of seeds for the production of oil and soap. The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap and detergent products under several brands. 

 

 

 

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