Delta Sugar moves to loss

The company attributed the reason for the drop in global and local prices due to the pandemic

  

ArabFinance: Delta Sugar (SUGR) turned to a net loss in 2020, suffering EGP 253.95 million, against a net profit of EGP 42.89 million in 2019, according to the company’s February 18thamended statement filed to the Egyptian Exchange.

The company attributed the reason for the drop in global and local prices due to the pandemic.

In January, the listed company announced incurring a net loss of EGP 267.03 million in 2020.

Delta Sugar is an Egypt-based shareholding company that operates in the food processing industry sector. The company is engaged in the manufacture of white sugar and related products. It operates one factory, which produces over 270,000 tons of white sugar annually.

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