Cairo – Mubasher: Ajwa Group for Food Industries – Egypt on Thursday reported a 478% year-on-year increase in its standalone losses during the full-year 2018.

The firm’s losses amounted to EGP 32.8 million last year, compared to EGP 5.6 million in 2017, according to a filing to the Egyptian Exchange (EGX).

Meanwhile, sales retreated to EGP 331.57 million in 2018 from EGP 438.17 million a year earlier.

During the first nine months of 2018, Ajwa Group reported losses of EGP 867,800, against a profit of EGP 11.07 million in the year-ago period, including minority shareholders’ rights.