Atlas for Investment reports 7% drop in loss

Updated 3/18/2021 10:39:00 AM

ArabFinance: Atlas for Investment and Food Industries (AIFI) reported a 7% Year on Year fall in its consolidated net loss in 2020, according to the company’s filing to the Egyptian Exchange on March 18th.

Consolidated net loss stood at EGP 571,702 in 2020, compared to EGP 613,472 in 2019.

The company’s standalone net profit recorded EGP 142,094 last year, compared to EGP 193,021 in 2019.

 The company posted a consolidated net loss before minority interest stood at EGP 454,053 in January-September 2020, compared to EGP 710,444 incurred in the prior-year period.

Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.