Cairo - Mubasher: The independent financial statements of Ajwa Group for Food Industries - Egypt showed a decline in profits by 89.9% year-on-year in the first half of the year, according to a bourse filing.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that profits reached EGP 1.87 million, compared to EGP 18.58 million for the same period last year.

Sales grew to EGP 250.01 million in H1-17, up from EGP 138.36 million in H1-16, while at the same time sales costs went up to EGP 222.6 million from EGP 118.2 million.