trending Market Intelligence /marketintelligence/en/news-insights/trending/7_gWede_Ng7wiWaQyUwa2Q2 content esgSubNav
In This List

Arab Dairy Products swings to profit in Q1

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Arab Dairy Products swings to profit in Q1

Arab Dairy Products Co. LLC said its first-quarter normalized net income came to 2 Egyptian piastres per share, compared with a loss of 7 piastres per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million pounds, compared with a loss of 4.3 million pounds in the prior-year period.

The normalized profit margin climbed to 1.0% from negative 3.1% in the year-earlier period.

Total revenue declined on an annual basis to 134.2 million pounds from 136.0 million pounds, and total operating expenses declined 10.6% year over year to 123.7 million pounds from 138.4 million pounds.

Reported net income totaled 1.6 million pounds, or 3 piastres per share, compared to a loss of 6.5 million pounds, or a loss of 11 piastres per share, in the prior-year period.

As of June 12, US$1 was equivalent to 7.63 Egyptian pounds.