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Ajwa switches to consolidated profitability in 9 months

Ajwa switches to consolidated profitability in 9 months

Arab FinanceAjwa for Food Industries Company Egypt (AJWA) turned to consolidated profitability during the first nine months of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on November 15th.

The company recorded a consolidated profit attributable to the parent company of EGP 39.555 million in January-September, compared to a net loss of EGP 17.237 million in the same period a year earlier.

Net sales declined to EGP 1.303 billion in the nine months to September 30th from EGP 1.325 billion in the year-ago period.

Moreover, net standalone profit after taxes grew to EGP 24.441 million in January-September from EGP 10.175 million in the comparative period of 2021.

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

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