Cairo – Mubasher: Ajwa Group for Food Industries – Egypt posted a 59.2% year-on-year increase in standalone losses for the first half of 2019.

Net loss stood at EGP 14.49 million during the six-month period ended 30 June 2019, versus EGP 9.1 million in H1-18, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

The company’s sales fell during the first six months of this year to EGP 147.53 million from EGP 169.68 million in the corresponding period of 2018.

During the second quarter of 2019, Ajwa’s losses rose to EGP 6.1 million, versus EGP 4.9 million in Q2-18.

It is worth noting that in Q1-19, Ajwa had incurred a net standalone loss of EGP 8.38 million, compared to a loss of EGP 4.3 million in the year-ago period.