Cairo for Oils becomes profitable in Q1

Updated 5/14/2023 10:13:00 AM
Cairo for Oils becomes profitable in Q1

Arab Finance: Cairo Oils and Soap (COSG) has turned into profitability during the first quarter (Q1) of 2023, according to the financial income statement filed to the Egyptian Exchange (EGX) on May 14th

The company achieved a net profit after tax of EGP 21.441 million in Q1 2023, versus a loss of EGP 12.738 million in Q1 2022.

Operating revenue grew to EGP 218.687 million in Q1 2023 from EGP 14.266 million in Q1 2022.

Cairo for Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export, and distribution of different types of seeds for the production of oil and soap.

The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap, and detergent products under several brands.

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