Egypt's Foreign Minister holds talks with Lithuania's gov't chancellor    Trump officials rush to Turkey as Moscow advances to fill Syria void from US retreat    No final Brexit deal on Wednesday: BBC political editor    British Council announces its first 'Science Stars' competition in Egypt    Egypt in talks with World Bank over solid waste management loan    Kenya opens $1.5 bln Chinese-built railway linking Rift Valley town and Nairobi    Grand Nile Tower Arts & Cultural Centre launches second round    AUC students win prestigious award at SensUs 2019    UEFA punishes Lazio for fans' racism at Europa League game    Bulgaria detains 4 soccer fans following racist acts in England match    Egypt's coach Hossam El-Badry satisfied with winning start despite technical problems    Lebanon deploys water cannon, helicopters to fight wildfires across country    Debating local councils law    MPs vent their anger at government    Bulgaria boss Balakov apologizes to England over racist chants during Euro 2020 qualifier    Hundreds released    Petrochemicals hurt Qatar, Gulf stocks mostly quiet early on    Macron on course for clash with Merkel over starting membership talks    Making healthcare universal    Scientists find how deadly malaria parasite jumped from gorillas to humans    Sliding inflation    Luxor's new discoveries    IMF's head Georgieva hails Egypt's economic reforms    Egypt's agricultural exports to China rise in 8 months – report    Egypt's PM, US secretary of energy mull cooperation in energy, electricity    Moroccan film Nomades scoops awards in Alexandria Film Festival    British police order a halt to climate change protests in London    U.S. demands Syria ceasefire, imposes sanctions on Turkey over incursion    Toshiba's JV with Egyptian Elaraby opens regional HQ in South Africa    Six authors vie for Booker prize 2019, Atwood in the lead    In Photos: A sneak peek into rehearsals for the Cleopatra ballet world premiere    Sisi, Ethiopia's PM to meet in Moscow to discuss GERD issue    Sisi: army engaged in attrition phase against terrorism in Sinai since 2013    10K fans to attend Egypt's friendly against Botswana in Alexandria: EFA    Sisi, Ethiopia's PM agree to overcome obstacles in Nile dam talks    Farwell to Egyptian comic actor Talaat Zakaria    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egyptian dairy company Domty announces Q2 business results
Published in Amwal Al Ghad on 15 - 08 - 2019

Arabian Food Industries Co (Domty), Egypt's largest cheese manufacturer by market share, announced on Wednesday its consolidated results for the second quarter of the year.
Domty posted a net profit of 37.5 million Egyptian pounds ($2.26 million) in the second quarter of 2019 buoyed by achieving sales of 646.8 million pounds.
"The Company started to reap the benefits of the implementation of the structural changes and policy adjustments in local sales, export, logistics, and marketing," chief executive for commercial affairs Ahmed Elkattan said.
Such changes and reforms have "led to an increase in the net profit margin by 31 percent compared to 1Q2019 and by 63 percent compared to 4Q2018."
Domty reported a sales growth in all cheese categories such as carton pack cheese (Tetra Pak), fresh cheese, creamy cheese, and mozzarella compared to the second quarter of 2018. This is with the exception of sales of Tetra Pak cheese to the governmental sector, where the company's sales to this channel decreased by 22 percent compared to the second quarter of last year, which has negatively impacted the overall sales growth.
The company started implementing a plan to change its juice packaging and began the re-launch. It is preparing to launch 100-percent juice (with no added sugar) product under the brand name Slim to meet the needs of a large segment of consumers inside and outside Egypt.
Domty's statement showed that the company continues to take successful steps in the bakery segment where it was able to achieve sales targets in the second quarter which represents 91 percent of sales achieved in the first quarter.
After the holy month of Ramadan, the company was also able to recover and sell 100 percent of the production capacity immediately and this has continued to date.
As for the development of the local sales performance, the company began to use the latest technology to raise the efficiency of operations. It began to re-apply the system (HAND HELD) in Greater Cairo and that should cover the whole country by the end of the first quarter of 2020. The company said it had selected the latest versions of the operating system and activated the GPS in the distribution vehicles as a second step towards the implementation of the digital transformation plan in the distribution sector.
Domty started the current year with intensive marketing activities followed by reducing marketing expenses gradually. Marketing expenses decreased by 48 percent in the second quarter compared to the first quarter.
"We plan to keep the marketing expenses at low levels during second half of 2019." the company said.
The "net profit margin has been steadily growing since 4Q2018 despite the decline in purchasing power which has been felt by most companies in different business sectors especially FMCG's, plus our structural reforms in the distribution sector befitting the company." vice chairman Mohamed El Damty said.
"Going forward, we see the growth coming from the bakery industry in the years to come which encouraged us to add a new bakery line in the next year to help the company reach sales exceeding 3.5 billion pounds in 2020."

Clic here to read the story from its source.