Egypt: Panda’s consolidated profits see 102.96% YoY leap in H1

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Egypt - Arab Dairy Products Co. (Panda) has reported a 102.96% year-on-year (YoY) climb in consolidated profits attributable to the parent company during the first half (H1) of 2024, according to financial statements filed to the Egyptian Exchange (EGX) on August 21st.

The company’s consolidated profits excluding minority interest rose to EGP 102.435 million in H1 2024 from EGP 50.471 million in H1 2023.

Consolidated sales jumped to EGP 1.441 billion in the six-month period ended June 30th, from EGP 899.644 million in the same period a year earlier.

As for standalone financials, Panda posted a net profit after tax of EGP 101.525 million in the January-June period of 2024 from EGP 50.385 million in the year before.

Panda is an Egypt-based company engaged in the dairy industry. The company exports its products to Middle Eastern countries, such as Lebanon, Jordan, Libya, the United Arab Emirates, Saudi Arabia, Palestine, Bahrain, Oman, and Kuwait.