Cairo – Mubasher: Arab Dairy Products Co. (Panda) reported a 75% year-on-year (YoY) drop in consolidated net profits, registering EGP 5.08 million in the first half (H1) of 2020, compared to EGP 20.009 million, including minority shareholders’ rights.

Meanwhile, the company’s sales slid to EGP 610.31 million in the January-June period from EGP 614.89 million in the same period in 2019, according to a bourse filing on Thursday.

As for standalone business, the dairy manufacturer achieved net profits of EGP 4.97 million in H1-20, down from EGP 19.86 million in H1-19.

During the first three months of the year, Arab Dairy posted a 95% profit plunge, logging EGP 831,647, compared to EGP 17.295 million in the year-ago period.