Cairo – Mubasher: Arabian Food Industries (Domty) is planning to initially increases its sales by 20% during 2016 stimulated by the latest expansions, said the company in a bourse filing.
At the present time, Domty is gradually and variably raising the price tag of some products by 11% in the fiscal year 2016.
During 2015, the company registered EGP 1.4 billion sales, against EGP 1.13 billion a year earlier.
Earlier, the dairy product producers announced a successful tap on the Russian market in the second half of 2015, expecting to export products to Russia at $4 million initially.
Upon the previous move, it has signed two supply contracts worth $20 million with Russia’s largest retailer, Magnet, and Russkoe Moloko.
In 2015, Domty’s profits leapt by 355.4% year-on-year to EGP128.7 million ($14.5 million), from EGP28.3 million ($3.2 million).
