Cairo - Mubasher: Ismailia National Food Industries (Foodico) will proceed with procedures to obtain an EGP 12 million loan from an Egyptian bank.

The loan will enable the company to finance its activities in the upcoming period, according to a bourse filing on Wednesday.

It is noteworthy to mention that during the first nine months (9M) of 2021, the company achieved net profits of EGP 1.51 million, down from EGP 13.72 million in the year-ago period.