Delta Sugar moves to loss
Updated 2/18/2021 10:59:00 AM
ArabFinance: Delta Sugar (SUGR) turned to a net loss in 2020, suffering EGP 253.95 million, against a net profit of EGP 42.89 million in 2019, according to a February 18th amended statement filed to the Egyptian Exchange.
The company had announced unaudited results in January, placing its net loss at EGP 267.03 million in 2020.
The losses are attributed to the drop in global and local prices due to the pandemic.
Delta Sugar 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.
