Egypt: Domty logs 93% YoY lower consolidated profits in Q1 2025
Arabian Food Industries Company (Domty) generated consolidated net profits after tax attributable to the parent company valued at EGP 10.592 million in the first quarter (Q1) of 2025, according to the financial results.
The recorded profits were 93.09% lower than EGP 153.302 million in Q1 2024.
Earnings per share (EPS) plummeted to EGP 0.03 in Q1 2025 from EGP 0.44 a year earlier, while the net sales dropped to EGP 2.251 billion from EGP 2.282 billion.
As for the standalone business, the company posted an annual plunge in net profit after tax to EGP 10.048 million at the end of March 2025, compared to EGP 153.141 million.
Mohamed Omar El Damaty, Vice Chairman of Domty, commented: "The company is working on a comprehensive restructuring plan to implement the Board of Directors' resolution to demerge the company into two listed companies.'
'Within this framework, We are working to reduce the number of receivable days in the wholesale sector, which will take some time and considerable effort to achieve the goal of reducing the company finance expenses and thus improving the profitability, also we are working on more than doubling our marketing expenses throughout the year to facilitate the restructuring process and increase product turnover,' El Damaty added.
He concluded: 'Finally, we expect gradual improvement starting the second quarter and a return to normal levels with the announcement of the official company demerger by the end of the third quarter, in order to open up investment opportunities that generate the highest returns for shareholders."
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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