Cairo – Mubasher: The standalone net losses of Ajwa Group for Food Industries - Egypt shrank by 12.6% year-on-year (YoY) to EGP 5.83 million during the first quarter (Q1) of 2021, compared to EGP 6.67 million.

The sales increased to EGP 79.47 million in the January-March period, compared to EGP 58.56 million in the corresponding period a year earlier, the company said in a bourse disclosure on Thursday.

In 2020, the company achieved consolidated net profits of EGP 3.5 million, versus net losses of EGP 107.32 million in 2019, including minority shareholders’ rights.

As for standalone business, the group suffered net losses of EGP 30.48 million last year, compared to EGP 34.64 million in 2019.