Panda swings to profitability in H1
Updated 8/18/2022 11:24:00 AM
Arab Finance: Arab Dairy Products Co. Arab Dairy (Panda) (ADPC) announced its financial results for the first half (H1) of 2022, which showed a shift towards profitability, according to the company’s financial income statements published on August 18th.
The company reported a consolidated profit attributable to the parent company of EGP 20.339 million in H1 2022, compared to a loss of EGP 1.175 million in the same period last year.
On the other hand, consolidated sales dropped to EGP 554.5 million in the January-June period from EGP 719.207 million in the corresponding period a year earlier.
On the standalone front, Panda posted a net profit after tax of EGP 20.564 million in H1 2022, versus a net loss of EGP 3.797 million in H1 2021.
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.
