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Ajwa Egypt turns to profitability in 9 months

Ajwa Egypt turns to profitability in 9 months

ArabFinance: Ajwa for Food Industries Company Egypt (AJWA) achieved a standalone net profit after tax of EGP 10.17 million during the January-September period of 2021, versus a net loss of EGP 20.40 million in the year-ago period, according to the company’s standalone financial statement filed to the Egyptian Exchange (EGX).

Net sales rose to EGP 171.73 million in the first nine months of 2021 from EGP 160.60 million in the same period of 2020.

In the third quarter (Q3) of 2021, the company incurred a net loss after tax of EGP 16.95 million, versus a net loss of EGP 9.06 million in Q3 2020.

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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