Cairo – Mubasher: Ajwa Group for Food Industries - Egypt reported a 533.8% year-on-year hike in consolidated net losses in 2018, according to a filing to the Egyptian Exchange (EGX) on Tuesday.

The Egyptian group’s net losses amounted to EGP 30.11 million last year, compared to EGP 4.75 million in 2017.

Meanwhile, sales retreated to EGP 1.43 billion in 2018 from EGP 1.55 billion a year earlier.

In March, the Egyptian firm posted a 478% year-on-year increase in its standalone losses to EGP 32.8 million last year, compared to EGP 5.6 million in 2017.