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Ajwa reports 24% loss increase

Ajwa reports 24% loss increase

ArabFinance: Ajwa for Food Industries-Egypt (AJWA) reported a 24% Year on Year rise in its consolidated net loss in Quarter one (Q1) of 2020, according to the company’s August 12th financial statements filed to the Egyptian Exchange.

Consolidated net loss stood at EGP 10,530,829 in Q1 2020, compared to EGP 8,469,564 incrred in Q1 2019.

Standalone net loss reached EGP 11,340,083 in Q1 2020, a 21% rise from EGP 14,497,522 incurred in Q1 2019.

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 KSA-based Ajwa Group for Food Industries, which operates in the food industry through the Middle East, Africa, Europe, and the Far East.

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