Domty to launch 1st dairy production line

New production line with costs of $2mln

Image used for illustrative purpose. Automatic Milk Bottling Factory.

Image used for illustrative purpose. Automatic Milk Bottling Factory.

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ArabFinance: Arabian Food Industries Company (Domty) (DOMT) will enter the dairy product market by launching a new production line with costs of $2 million (EGP 31.41 million), Enterprise cited Domty's chairman and Managing Director Mohamed El Damaty.

The company seeks new opportunities to grow amid the crisis of pandemic, El Damaty said.

Domty will distribute annual cash dividends of EGP 0.20 per share on April 22nd.

The listed company reported a consolidated net profit before minority interest stood at EGP 157.96 million in 2020, against EGP 156.16 million achieved in 2019.

The Egypt-based company is engaged in the production and sale of dairy products. The company’s offerings include a range of cheese products, such as Tetra Pak cheese, plastic tubes cheese, mozzarella cheese, and spread cheese, as well as milk products and juices.

At the press time, the conversion rate is $1 = EGP 15.71

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