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Ajwa narrows loss

Ajwa narrows loss

ArabFinance: Ajwa for Food Industries Company Egypt (AJWA) suffered a consolidated net loss of EGP 5.01 million in 2020, compared to EGP 91.21 million in 2019, according to a filing to the Egyptian Exchange on March 18th.

Standalone net loss declined to EGP 30.48 million last year, compared to EGP 34.64 million in 2019.

During the first nine months of 2020, the company achieved a net profit to shareholders of EGP 11.37 million.

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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