Cairo – Mubasher: The Arab Dairy Products Co. (Panda) on Tuesday posted it has turned a profit in the first half of 2018.

The company logged EGP 8.84 million in profits during the six-month period ended June, against a net loss of EGP 8.1 million in the prior-year period, according to a filing to the Egyptian Exchange (EGX).

Sales rose to EGP 578.66 million at the end of June, versus EGP 550.04 million in H1-17.

Meanwhile, standalone profits amounted to EGP 8.63 in H1-18, against a net loss of EGP 8.18 million in the year-ago period.

It is worth noting that Arab Dairy reported a 51% year-on-year fall in consolidated profits for the first quarter of 2018, recording EGP 853,020 from EGP 1.7 million.