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Ajwa turns to profit in 9 months

Ajwa turns to profit in 9 months

ArabFinance: Ajwa for Food Industries Company Egypt achieved a net profit to shareholders of EGP 11.37 million during the first nine months of 2020, according to a January 14th disclosure.

The result came against a net loss worth EGP 49.7 million in the January-September 2019 period.

Net sales stood at EGP 1.07 billion during the nine-month period in 2020, compared with EGP 528.54 million in the prior-year term.

Ajwa reported a net profit of EGP 27.57 million during the third quarter from July to September 2020. This was versus a net loss to shareholders worth EGP 14.04 million in the corresponding period in 2019.

Net sales increased to EGP 528.65 million in the third quarter of 2020, from EGP 176.28 million in the July-September 2019 period.

Ajwa incurred a consolidated net loss of EGP 16.2 million during the first half of 2020.

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