Egypt: Domty logs $9.26mln consolidated profits in 2023; dividends unveiled

PHOTO

Cairo – Arabian Food Industries Company (Domty) recorded higher consolidated net profits after tax at EGP 454.43 million in 2023, compared to EGP 265.70 million in 2022.

The earnings per share (EPS) jumped to EGP 1.30 last year from EGP 0.76 in the January-December 2022 period, according to the income statements.

Net sales amounted to EGP 7.50 billion in 2023, up year-on-year (YoY) from EGP 5.08 billion.

Total assets hit EGP 3.60 billion as of 31 December 2023, marking an annual rise from EGP 3.09 billion.

Standalone Business

Non-consolidated net profits after tax enlarged to EGP 510.91 million last year from EGP 263.23 million in 2022, while the EPS went up to EGP 1.47 with EGP 0.76.

Dividends

The board members of Domty recommended, on 10 March, a cash dividend of EGP 0.50 per share for 2023. The dividends proposal is still subject to the approval of the shareholders at the general assembly meeting.

In October 2023, Domty’s board suggested cash dividends of EGP 56.52 million for 2022.