Egyptian dairy company Domty says Q2 net profit 47% down

Egyptian dairy company Arabian Food Industries Co – Domty (DOMT.CA) reported 47 percent y-o-y decline in second quarter net profit to 20.7 million Egyptian pounds ($2.3 million) from 39.5 million pounds.

Over the first six months of the year, the company posted 44.9 million pounds in consolidated profits, down 27.7 percent from 62 million pounds for the year-ago period, the company said in a bourse filling.

In the first quarter, consolidated profits rose 7.1 percent to 24.15 million pounds from 22.55 million pounds.