Panda’s consolidated profits soar 289% YoY in 2023
Updated 3/4/2024 10:35:00 AMArab Finance: Arab Dairy Products Co. (Panda) has reported a 289.2% year-on-year (YoY) surge in consolidated profits attributable to the parent company in 2023 to EGP 122.496 million, compared to EGP 31.477 million, according to a disclosure.
Consolidated sales hit EGP 2.182 billion last year, up from EGP 1.155 billion the year before.
As for standalone financials, Panda’s net profits after tax went up to EGP 122.515 million in 2023 from EGP 31.808 million in 2022.
Meanwhile, standalone sales jumped to 2.126 billion from EGP 1.154 billion.
Panda is an Egypt-based company engaged in the dairy industry. The company exports its products to Middle Eastern countries, such as Lebanon, Jordan, Libya, the United Arab Emirates, Saudi Arabia, Palestine, Bahrain, Oman, and Kuwait.
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