Cairo – Mubasher: Ajwa Group for Food Industries – Egypt reported a 5.3% year-on-year (YoY) increase in its standalone net losses during 2019.

The company suffered net losses of EGP 34.64 million last year, up from EGP 32.89 million in 2018, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Meanwhile, sales retreated to EGP 235.23 million in 2019, compared to EGP 331.57 million a year earlier.

It is noteworthy to mention the January-September period of 2019, Ajwa Egypt’s consolidated net losses grew to EGP 52.8 million from EGP 867,846 in the year-ago period, including minority shareholders’ rights.