Cairo – Mubasher: Arab Dairy Products Co. (Panda) reported a 126.2% year-on-year profit growth during the first half of 2019, the company’s consolidated financial results showed.

Net profits amounted to EGP 20 million in the six-month period ended 30 June, compared to EGP 8.84 million in the same period a year earlier, the company said in a filing to the Egyptian Exchange (EGX) on Wednesday.

Year-on-year, sales rose to EGP 614.89 million in the January-June period of 2019 from EGP 578.66 million in the year-ago period.

At the level of standalone business, Arab Dairy’s profit grew to EGP 19.86 million in H1-19, compared to EGP 8.63 million in H1-18.

As for the second quarter of 2019, the dairy producer logged a profit of EGP 2.71 million, down from EGP 7.99 million in Q2-18.

During the three-month period ended 31 March, the EGX-listed firm’s profit surged to EGP 17.29 million, compared to EGP 853,024 in the prior-year period.