Egypt’s dairy marker Domty profits fall 48% in nine months

Egyptian dairy maker, Arabian Food Industries Company (Domty) reported Wednesday a 48 percent decline in its nine-month profits to reach 28.5 million Egyptian pounds ($1.6 million).

Earlier, profits stood at 54.9 million pounds during the first nine months of 2016.

The company made sales worth 1.6 billion pounds up from 1.2 billion pounds last year.

Standalone profits fell to 19.9 million pounds, compared with 52.4 million pounds year ago.