Cairo – Mubasher: Arabian Food Industries (Domty) has sealed a contract worth $10 million with Russia’s largest retailer, Magnet as per a bourse filing.

Domty will supply dairy products to Magnit, which is the market leader by the number of stores and their geographical coverage in Russia.

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.

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).