Arab Dairy Products Co. (Panda) has reported a 276.4% year-on-year (YoY) surge in consolidated profits attributable to the parent company during the first nine months of 2023, according to financial statement filed to the Egyptian Exchange (EGX) on November 14th.
The company’s consolidated profits excluding non-controlling interest rose to EGP 92.747 million from EGP 24.638 million.
Consolidated sales hit EGP 1.538 billion in the nine-month period ended September 30th, from EGP 821.535 million in the same period a year earlier.
As for standalone financials, Panda’s net profits after tax went up 271.3% YoY to EGP 92.623 million during the January-September period from EGP 24.948 million.
Meanwhile, standalone sales jumped to 1.494 billion from EGP 820.013 million.
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.