Cairo – Mubasher: Arabian Food Industries Company (Domty) logged net profits of EGP 51 million in the third quarter (Q3) of 2021, up by 23.4% year-on-year (YoY) from EGP 41.3 million, the unaudited financial results showed. 

The net sales increased to EGP 956 million in the July-September period, compared to EGP 724.1 million in the prior-year period, Domty said in a bourse disclosure on Tuesday. 

The company expects a 10% YoY growth in sales by the end of 2021, despite the decline in sales in the first half (H1) of 2021.

It is currently developing a plan to increase sales to EGP 4 billion in 2022 with a record high of EGP 240 million in targeted net profit.

During H1-21, the company incurred net losses of EGP 32.55 million, against net profits of EGP 63.83 million in H1-20.