The Arab Dairy Products Co. (Panda) on Sunday posted it has turned profitable in the first nine months of 2018, as compared with the same period last year.
The company reported EGP 26.4 million in profits during the nine-month period ended September, against a net loss of EGP 11.22 million in the prior-year period, including minority shareholders’ rights, according to a filing to the Egyptian Exchange (EGX).
Sales rose to EGP 861.6 million in the January-September period of this year, versus EGP 829.8 million in the year-ago period.
Meanwhile, standalone profits totalled EGP 26.13 million at the end of September, against a net loss of EGP 11.4 million in the first nine months of 2017.
Panda previously reported it turned to profitability in the first half of 2018 with EGP 8.84 million, against a net loss of EGP 8.1 million in the prior-year period.
Sales rose to EGP 578.66 million at the end of June, versus EGP 550.04 million in H1-17.