Friday, 20 Apr 2018
Business

LE 40.5 million profits for Domati during the first quarter of 2018

During the first quarter of 2018, the financial indicators of Arab Food Industries Company showed a profit of LE 40.5 million during the three months ended March 2018, compared to losses of LE 6 million in the comparable quarter of 2017. The company said in a statement today that the company’s sales grew during the first quarter of this year to 591.9 million pounds, compared to sales of 471 million pounds in the quarter compared to last year and this resulted in profits. Commenting on the results of the unaudited business, Mohammed Al-Damati, Vice Chairman of the Board of Directors, said: “A successful start of 2018, what was achieved in the first quarter exceeded the company’s plan, we worked on all levels, the sales number is developing and most importantly driven by increasing quantity and not only value, Of the first quarter of 2016 pre-flotation rates and decline ranges from 7% in cheese and 9% in juice The gross profit margin was also increased to nearly 24%, higher than the fourth quarter of 2017, driven by the drop in global raw material prices, which is expected to continue for the rest of the year. “Overall, sales, shopping and administrative expenses have been controlled without compromising the company’s competencies and capabilities, but to meet the very low expenses of the competitor The reduction in interest rates helped improve profits, which will have a full impact in the second quarter. The sales of the Fita Plus product continued to grow, which is a positive indicator of the company’s sales, with the decline of popular brands. ” On the market share, he said: “We see growth in distribution ratios and we expect to translate them to increase in market share, God willing. In terms of juice, sales rates have returned to around 2016 and we hope the situation will improve further in the second quarter. On the export side, growth rates continued to be achieved thanks to the entry of new markets for juices and the development of sales of white cheese. On the level of indebtedness, there was a noticeable development in the number of local market days, while the long collection cycle continued from government agencies. . In the bakery sector, a new sales manager with more than 11 years of experience in the bakery field was contracted to ensure efficient distribution of the product and to inject new blood into the company’s structure to improve its performance. The actual production of the bakery will begin after the month of Ramadan. Domte shares on the Egyptian Stock Exchange are worth about 250 million shares at a nominal value of LE 0.20.

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