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Domty posts 12% profit drop in 9M

Domty posts 12% profit drop in 9M
Net profits slid to EGP 117.04 million
Domty
DOMT
-1.80% 12.01 -0.22

Cairo – Mubasher: Arabian Food Industries Co (Domty) reported an 11.9% year-on-year profit drop during the first nine months of 2019.

Net profits slid to EGP 117.04 million in the January-September period, compared to EGP 132.87 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

In the meantime, sales increased to EGP 2.02 billion in the nine-month period ended 30 September from EGP 1.97 billion in the corresponding period a year earlier.

On the other hand, the cost of sales grew to EGP 1.51 billion at the end of September, compared to EGP 1.49 billion a year earlier.

At the level of standalone financials, the company’s net profit retreated to EGP 103.57 million in the first nine months of the year, compared to EGP 121.42 million in the prior-year period.

As for the third quarter of 2019, Domty logged a consolidated net profit of EGP 50.69 million, up from EGP 34.74 million in Q3-18.