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Ajwa standalone net loss reaches EGP 5.830 M

Ajwa standalone net loss reaches EGP 5.830 M

ArabFinance: Ajwa for Food Industries Company Egypt (AJWA) posted a standalone net loss of EGP 5.830 million in quarter one (Q1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 9.5% when compared to EGP 6.676 million in Q1 2020.

On June 8th, the company announced that it will amend the par value of its share to EGP 10 from EGP 2 per each, with maintaining the issued capital unchanged.

The issued capital amounted to EGP 200.953 million will be distributed over 20,095,300 shares instead of 100,476,500 shares.

Ajwa suffered a consolidated net loss of EGP 5.01 million in 2020, compared to EGP 91.21 million in 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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