Arabian Food Industries Co (Domty) on Tuesday posted it has turned profitable during the first quarter of 2018 due to higher sales.
Net profit amounted to EGP 40.4 million in the three-month period ended last March, versus a net loss of EGP 6.002 million in Q1-17, the company said in a filing to the Egyptian Exchange (EGX).
Sales grew to EGP 591.9 million in Q1-18, up from sales of EGP 471.3 million in the prior-year period.
Meanwhile, standalone profits stood at EGP 37.21 million in the first three months of 2018, against a loss of EGP 8.11 million in the year-ago period.
Domty had previously posted a net profit of EGP 61.52 million for the full-year 2017, compared to EGP 25.5 million in profits for 2016, including minority shareholders’ rights.