Cairo-Mubasher: The consolidated financial statements of the Arabian Food Industries Co. (Domty) indicated a 32% year-on-year decline in profits during the first half of 2019.
The profits of the period tumbled to EGP 66.3 million in H1-19 from EGP 98.13 million in H1-18, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX) on Wednesday.
The company’s sales grew to EGP 1.3 billion from EGP 1.28 billion in H1-18.
On a quarterly basis, Domty’s profits dropped to EGP 37.4 million in the second quarter of 2019 from EGP 57.6 million in Q2-18.
As for the standalone income statements, Domty’s profits shrank to EGP 57.29 million in H1-19 from EGP 90.7 million in H1-18.
Noteworthy, in the first quarter of 2019, the company’s net profit tumbled to EGP 28.84 million from EGP 40.44 million in Q1-18.
