Arab Finance: Arab Dairy Products Co. (Panda) has reported a 148.15% year-on-year (YoY) climb in consolidated profits attributable to the parent company during the first half (H1) of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on August 16^th.

The company’s consolidated profits excluding minority interest rose to EGP 50.471 million in H1 2023 from EGP 20.339 million in H1 2022.

Consolidated sales jumped 62.25% YoY to EGP 899.644 million in the six-month period ended June 30th, from EGP 554.490 million in the same period a year earlier.

As for standalone financials, Panda posted a net profit after tax of EGP 50.385 million in the January-June period of 2023 from EGP 20.563 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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