Cairo – Mubasher: Egypt’s dairy product producer, Domty, saw an increase in its profits for the first the quarter of 2016, said the company in a bourse filing.
Domty’s Q1 consolidated profits rose 7.1% year-over-year to EGP 24.15 million ($2.7 million) from EGP 22.55 million ($2.5 million).
On the level of standalone financial results, the company earned EGP 23.3 million in the first quarter, up 7% from EGP 21.7 million for the year-ago quarter.
In 2015, Domty’s profits leapt 355.4% year-on-year to EGP128.7 million ($14.5 million), from EGP28.3 million ($3.2 million).
Earlier, the dairy product producer announced a successful tap into the Russian market in the second half of 2015, expecting to export products to Russia at $4 million initially.
