Egyptian Endowments Authority cuts stake in Delta Sugar

Updated 2/10/2021 1:39:00 PM

ArabFinance: Egyptian Endowments Authority reduced its stake in Delta Sugar (SUGR) via selling 569,675 shares at EGP 5.25 million, according to the company’s February 10th statement filed to the Egyptian Exchange.

The authority’s stake changed to 5.76% from 6.16%.

Delta Sugar suffered a net loss of EGP 267.03 million in 2020, versus a net profit of EGP 42.89 million in 2019.

The listed company is an Egypt-based shareholding company that operates in the food processing industry sector. The company is engaged in the manufacture of white sugar and related products. It operates one factory, which produces over 270,000 tons of white sugar annually.