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Ajwa Egypt’s consolidated profit soars 200.1% YoY in Q1

Ajwa Egypt’s consolidated profit soars 200.1% YoY in Q1

Arab Finance: Ajwa for Food Industries Company Egypt (AJWA) reported a 200.08% year-on-year (YoY) surge in consolidated net profit attributable to the parent company for the first quarter (Q1) of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on June 6th.

The company recorded a consolidated net profit excluding minority interest of EGP 29.76 million in Q1 2022, compared to EGP 9.91 million in Q1 2021.

Moreover, the company generated consolidated net sales of EGP 472.48 million in the January-March period this year, up from EGP 439.50 million in the year-ago period.

As per the standalone financial statement, Ajwa extended its standalone net loss after tax in Q1 2022 to EGP 11.06 million from EGP 5.83 million in Q1 2021.

Ajwa is an Egypt-based company that operates within the manufacture and export of cooking oils and ghee.

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