trending Market Intelligence /marketintelligence/en/news-insights/trending/8Gjh6IsJPnpMJCEKqC4t0g2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Foodico swings to loss in Q3

Blog

Understanding the Basics of Social Housing Providers and Associations (SHPAs)

Blog

Tech in Banking: An Age of Digital Disruption

Blog

COVID-19 Impact & Recovery: LCD Outlook for H2 2021

Blog

COVID 19 Impact Recovery Media Telecom and Technology Outlook for H2 2021


Foodico swings to loss in Q3

Ismailia National Co. for Food Industries (Foodico) SAE said its third-quarter normalized net income amounted to a loss of 582,340 pounds, compared with income of 10,270 pounds in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 7.7% from 0.1% in the year-earlier period.

Total revenue rose 7.4% on an annual basis to 15.8 million pounds from 14.7 million pounds, and total operating expenses rose 14.8% from the prior-year period to 16.8 million pounds from 14.6 million pounds.

Reported net income came to a loss of 1.2 million pounds, or a loss of 14 piastres per share, compared to income of 16,430 pounds, or 0 piastres per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to 7.83 Egyptian pounds.