trending Market Intelligence /marketintelligence/en/news-insights/trending/dCg0Svgcokd0akNMH1T-NQ2 content esgSubNav
In This List

Arab Dairy Products swings to profit in Q2

Podcast

Street Talk | Episode 94: Recessionary fears in '22 overblown, Fed could overtighten

Blog

Optimism abounds in Indian online video industry

Blog

2022 broadband forecast shifts to market share battle with intense competition

Blog

Expand Your Perspective: Innovation


Arab Dairy Products swings to profit in Q2

Arab Dairy Products Co. LLC said its second-quarter normalized net income was 2 Egyptian piastres per share, compared with a loss of 15 piastres per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million pounds, compared with a loss of 9.2 million pounds in the prior-year period.

The normalized profit margin increased to 0.7% from negative 5.8% in the year-earlier period.

Total revenue declined 9.8% on an annual basis to 142.5 million pounds from 158.0 million pounds, and total operating expenses declined 18.0% on an annual basis to 135.7 million pounds from 165.5 million pounds.

Reported net income came to 1.4 million pounds, or 2 piastres per share, compared to a loss of 16.1 million pounds, or a loss of 27 piastres per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 7.83 Egyptian pounds.