Arabian Food Industries Company – Domty is witnessing the strongest performance of the year in the fourth quarter (Q4), in terms of both value and volume of sales.
The company said in a press release that it expects to achieve sales close to EGP 800m in the current quarter. This results from the increase in sales volume and value of the cheese and bakery segments.
The press release added that the company projects a slight growth in net profit versus last year. The third bakery production line has started operation in the current quarter, thus the company is currently operating three production lines.
Naeem Research said that Domrty has a positive outlook for the near-term due to: resumption of cheese sales to the government accounts, reopening of schools and universities (to result in higher sales of juice and bakery) starting September, bakery production line to commence operations, addition of milk and flavored milk segments, and lower interest rates