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Ajwa reports 55% profit slip

Ajwa reports 55% profit slip

ArabFinance: Ajwa for Food Industries-Egypt (AJWA) reported a 55% Year on Year decline in its consolidated net loss in the first half (H1) of 2020, according to the company’s August 27th financial statements filed to the Egyptian Exchange.

Consolidated net loss stood at EGP 16,200,351 in H1 2020, compared to EGP 35,664,375 incurred in H1 2019.

The company’s extraordinary general meeting on July 19th approved its business continuity and amendments to the articles of association.

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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