Egypt: Panda’s consolidated profits up in H1-24

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The Arab Dairy Products Company (Arab Dairy – Panda) generated EGP 103.30 million in consolidated net profit during the first half (H1) of 2024, an annual rise hike from EGP 50.60 million.

The sales amounted to EGP 1.44 billion in H1-24, marking a year-on-year (YoY) leap from EGP 899.64 million, according to the consolidated financial results.

Earnings per share (EPS) increased to EGP 0.20 as of 30 June 2024 period from EGP 0.17 in H1-23.

Standalone Results

In the first six months (6M) of 2024, Panda recorded higher standalone net profits after tax at EGP 101.52 million, compared to EGP 50.35 million in 6M-23.

Non-consolidated EPS hit EGP 0.17 in H1-24, against EGP 0.14 in the January-June 2023 period. Meanwhile, the revenues climbed to EGP 1.43 billion from EGP 891 million.

Financials for Q2-24

In the second quarter (Q2) of 2024, the company logged consolidated net profit valued at EGP 38.43 million, up YoY from EGP 28.49 million.

The EGX-listed firm’s revenues increased to EGP 498.53 billion in April-June 2024 from EGP 428.68 million a year earlier, while the EPS dropped to EGP 0.03 from EGP 0.09.

The standalone net profits after tax enlarged to EGP 36.76 million in Q2-24 from EGP 28.35 million in Q2-23, while the revenues increased to EGP 552.60 million from EGP 420.26 million.

As of 31 March, the consolidated net profits of Panda witnessed YoY growth to EGP 64.86 million, compared to EGP 22.11 million.