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Ajwa Egypt incurs EGP 17.23M consolidated loss in 9 months

Ajwa Egypt incurs EGP 17.23M consolidated loss in 9 months

ArabFinanceAjwa for Food Industries Company Egypt (AJWA) incurred a consolidated net loss after tax attributable to the parent company of EGP 17.23 million during the January-September period of 2021, versus a net profit of EGP 11.37 million in the year-ago period, according to the company’s consolidated financial statement filed to the Egyptian Exchange (EGX).

Net sales rose to EGP 1.32 billion in the first nine months of 2021 from EGP 1.075 million in the same period of 2020.

In the third quarter (Q3) of 2021, the company incurred a net loss after tax of EGP 14.15 million, versus a net profit of EGP 27.57 million in Q3 2020.

It is worth noting that the company 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.

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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