Cairo – Mubasher: The consolidated financial statements of Arab Dairy Products Co. (Panda) showed a 27.1% year-on-year (YoY) rise in its net profits during 2019.

The company achieved net profits of EGP 52.52 million last year, up from EGP 41.29 million in 2018, according to a statement to the Egyptian Exchange (EGX) on Tuesday.

Sales grew to EGP 1.26 billion in 2019, compared to EGP 1.18 billion in the previous year.

As for standalone business, the EGX-listed firm’s net profits went up to EGP 52.29 million last year from EGP 40.9 million a year earlier.

It is worth mentioning that during the first nine months of 2019, Arab Dairy’s net profits tumbled to EGP 20.64 million from EGP 26.43 million in the prior-year period.