Egyptian dairy maker Domty starts trial operations in a new plant

Egyptian dairy company Arabian Food Industries Co – Domty (DOMT.CA)has started trial operations in its newest plant in Six of October city, it said in a statement on Monday.

The new plant is owned by Domty’s subsidiary, Development Company for Food Industries.

The company further said the new plant is specialised in producing juices amidst plans to produce baked products and cheeses later.

Domty hasallocated13 million Egyptian pounds ($1.46 million)to establish the new plant from money secured for capital increase.

Domty’s consolidated results revealed that second quarter net profits declined 47.6 percent year-over-year to 20.7 million pounds from 39.5 million pounds.

As for standalone profits, Domty also saw a slide of 49 percent for the second quarter and the first half of 2016.

During the second quarter, profits declined to 19.78 million pounds from 38.7 million pounds logged in the same period a year ago.