Arab Dairy Products turns profitable in 9 months
Updated 11/14/2022 12:36:00 PM
Arab Finance: Arab Dairy Products Co. Arab Dairy (Panda) (ADPC) reported a consolidated profit attributable to the parent company of EGP 24.63 million in the first nine months of 2022, versus a loss of EGP 16.89 million in the same period last year, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on November 14th.
Consolidated sales dropped to EGP 821.53 million in the January-September period from EGP 1.006 billion in the corresponding period a year earlier.
As per the standalone financial statement, Panda posted a net profit after tax of EGP 24.94 million in the nine-month period ended September 30th, versus a net loss of EGP 20.06 million in the same period of 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.
