NUDAP swings to loss in 2020
Updated 3/3/2021 12:00:00 PM
ArabFinance: North Upper Egypt for Development and Agricultural Production (NUDAP) incurred a net consolidated loss of EGP 1,010,363 in 2020, according to the company’s March 3rd financial statements filed to the Egyptian Exchange.
In 2019, the company posted a standalone net profit of EGP 2,975,726.
The company incurred a standalone net loss of EGP 1,214,739 in 2020, versus the net profit of EGP 2,816,311 posted in 2019.
NUDAP’s board of directors approved issued and paid-up capital increase by EGP 126,993,100 from EGP 63,496,550 to EGP 130,489,650.
NUDAP decided to split its shares' par value to be EGP 1 instead of EGP 10, maintaining the issued and paid-up capital unchanged, the statement added.
NUDAP is an Egypt-based public shareholding company that operates in the agricultural sector. The company is primarily engaged in producing and trading agricultural chemicals such as fertilizers, insecticides, and pesticides.
