Cairo – Mubasher: Arabian Food Industries Co (Domty) reported a slight increase in its net profits, according to the consolidated financial statements.

Domty’s net profits edged up to EGP 156.16 million last year from EGP 154.6 million in 2018, including minority shareholders’ rights, according to a bourse statement on Thursday.

Meanwhile, the company’s sales increased to EGP 2.66 billion in 2019, compared to EGP 2.58 billion in the previous year.

As for standalone business, the Egyptian firm posted net profits of EGP 140.2 million last year, up from EGP 139.4 million in 2018.

In addition, the company’s board of directors recommended a cash dividend distribution of EGP 0.20 totalling EGP 56.52 million for 2019. The proposal is still pending shareholder approval.

It is noteworthy that during the January-September period of 2019, Domty’s net profits fell to EGP 117.04 million from EGP 132.87 million in the year-ago period, including minority shareholders’ rights.