Cairo – Mubasher: The Arab Dairy Products Company (Arab Dairy – Panda) logged consolidated net profit after tax worth EGP 64.86 million in the first quarter (Q1) of 2024.

The recorded net profits were compared with EGP 22.11 million in Q1-23, according to the financial results.

Operating revenues hit EGP 917.40 million in Q1-24, up year-on-year (YoY) from EGP 470.95 million.

The earnings per share (EPS) stood at EGP 0.13 in January-March 2024, an annual growth from EGP 0.07.

Total consolidated assets amounted to EGP 1.82 billion in Q1-24, versus EGP 1.61 billion at the end of December 2023.

Standalone Business

The company’s standalone net profits after tax increased to EGP 64.75 million in the first three months (3M) of 2024 from EGP 22 million in Q1-23.

Non-consolidated revenues hiked to EGP 886.71 million in Q1-24 from EGP 470.74 million a year earlier, while the EPS increased to EGP 0.11 from EGP 0.06.

As of 31 December 2023, Panda recorded higher consolidated net profits after tax at EGP 122.53 million, compared to EGP 31.23 million in 2022.