Cairo – Mubasher: Ajwa Group for Food Industries – Egypt on Thursday said that it turned to a loss in the full year ended 31 December 2017.

The company suffered loss worth EGP 5.6 million last year, against EGP 9.7 million in profits during 2016, according to the company’s statement to the Egyptian Exchange (EGX).

Sales increased to EGP 438.17 million in 2017, compared to EGP 318.26 million in the prior year, the Egyptian unit of the Saudi Arabia-based Ajwa Group for Food Industries said.

As for the first nine months of 2017, the company reported losses of EGP 962,400, compared to profits amounted to EGP 17.03 million in the same period a year earlier.