Cairo – Mubasher: Arabian Food Industries Co’s (Domty) board of directors has proposed retaining 2017 profits, except for employees’ shares.
The board has decided to hold the company’s ordinary general meeting (OGM) on 19 April 2018, Domty said in a filing to the Egyptian Exchange (EGX) on Sunday.
The Egypt-based firm also posted a 140% year-on-year hike in consolidated profits during the full-year 2017, as net profit stood at EGP 61.52 million from EGP 25.5 million.
The dairy products company’s sales doubled to EGP 2.25 billion in the year ended December 2017, up from EGP 1.7 billion a year earlier.
Moreover, the Egyptian food industries firm posted EGP 49.9 million in standalone profits in 2017 versus EGP 23.16 million in 2016.
It is worth noted that Domty had previously reported EGP 30.6 million in sales for the three months ended December 2017.
