Cairo Oils and Soap’s turns to profitability in H1: Egypt

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Cairo Oils and Soap (COSG) recorded net profits after tax amounting to EGP 41.715 million during the first half (H1) of 2023, versus net losses of EGP 45.791 million in the same period a year earlier, according to the financial indicators filed to the Egyptian Exchange (EGX) on August 15th.

Operating revenues rose to EPG 469.596 million in the six-month period ended June 30th, compared to 22.729 million during the January-June period of 2022.

Cairo for Oils, a subsidiary of the Holding Company for Food Industries, is an Egypt-based holding company engaged in the manufacture, processing, packaging, import, export, and distribution of different types of seeds for the production of oil and soap.

The company primarily uses cotton seeds and soya beans for processing and producing cooking oil, soap, and detergent products under several brands.