Arab Finance: Arab Dairy Products Co. Arab Dairy’s (Panda) has reported a 193.97% year-on-year (YoY) climb in consolidated profits attributable to the parent company during the first quarter (Q1) of 2024, according to financial statements filed to the Egyptian Exchange (EGX) on June 2nd.

The company’s consolidated profits excluding minority interest rose to EGP 64.832 million in Q1 2024 from EGP 22.054 million in Q1 2023.

Consolidated sales jumped to EGP 917.404 million in the three-month period ended March 31st, from EGP 470.959 million in the same period a year earlier.

As for standalone financials, Panda posted a net profit after tax of EGP 64.755 million in the January-March period of 2024 from EGP 22 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.

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