26 Mar 2018 07:00
Board of Directors meeting held on March 22, 2018
Cairo March 25, 2018
The Board of Directors in its meeting on March 22, 2018 unanimously resolved the following:
1- Approved the minutes of the previous Board of Directors meeting.
2- Approved the consolidated and standalone financial statements for the financial year ended on December 31, 2017.
3- Approved the external auditor's report for the consolidated and standalone financial statements for the financial year ended on December 31, 2017.
4- Approved the audit committee report for the financial period ended on December 31, 2017.
5- Approved the board of directors annual report for the financial year ended on December 31, 2017
6- Approved calling for the Ordinary General Meeting to convene On April 19, 2018 at 3 pm at Domty factory and authorized and delegated the Chairman to send the invitations
-Ends-
Summary financial statements for the year 2017 follow. Complete financial statements can be downloaded at domty.org
I. Consolidated Income Statement
(EGP mn) | 31-12-2017 | 31-12-2016 |
Net Sales | 2253.5 | 1,702.40 |
Cost of Sales | (1801) | (1366.9) |
Gross Profit | 452.5 | 335.50 |
Gross Profit Margin | 20.08% | 19.71% |
Sales & Marketing Expenses | (289.2) | (238) |
General & Administrative Expenses | (37.7) | (37.7) |
Total SG&A | (326.9) | (275.7) |
Other Income | 38.6 | 20.7 |
Provisions (including reversals) | (0.73) | (0.17) |
Operating Profits | 163.5 | 80.33 |
Operating Profit Margin | 7.25% | 4.72% |
Interest Income | 20.4 | 17.7 |
Interest Expense | (103.4) | (63.4) |
Net Profit Before Tax | 80.5 | 34.69 |
Income Tax | (19) | (9.11) |
Net Profit | 61.5 | 25.58 |
Net Profit Margin | 2.72% | 1.5% |
II. Consolidated Balance Sheet
(EGP mn) | 31-12-2017 | 31-12-2016 |
Cash & Equivalents | 46.2 | 288.3 |
Treasury Bills | 126.1 | - |
Inventory | 214 | 274 |
Receivables | 542 | 371.2 |
Prepayments & Other Receivables | 222.7 | 171.5 |
Total Current Assets | 1151 | 1105 |
PP&E (Net) | 368 | 353.5 |
Projects Under Construction | 231 | 175 |
Total Non-Current Assets | 599 | 528.5 |
Total Assests | 1750 | 1633.5 |
Short-Term Debt | 734.9 | 798.6 |
CPLTD | 21.4 | 12 |
Machine Installments - CP | 29.4 | 50 |
Payables | 187.3 | 97.3 |
Provisions | 9.6 | 12.6 |
Accruals & Other Payables | 31.5 | 40.8 |
Income Tax Payable | 17.4 | 6.1 |
Total Current Liabilities | 1031.5 | 1017.4 |
LT Debt | 51.3 | 14.9 |
Machine Installments - LT | 80.8 | 76.8 |
Sales Tax on Machines & Equipment | 3.6 | 4.5 |
LT Notes Payable | 0.127 | 0.3 |
Deferred tax liabilities | 22.6 | 21 |
Total Non-Current Liabilities | 158.4 | 117.5 |
Total Equity | 560.1 | 498.6 |
Total Equity & Liabilities | 1750 | 1633.5 |
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About Arabian Food Industries Company Domty S.A.E.
Domty, founded in 1988and headquartered in Egypt, is a leader in the growing Egyptian cheese and juice market. The Company manufactures, markets and distributes a range of branded white and processed cheeses and juice products, with a family of nearly 200 SKUs under a brand portfolio including Domty, Damo, Gebnety and Bravo. Domty is a household name and the number-one cheese producer in the nation by market share. The Company sells to tens of thousands of retail and business customers as well as to more than 35 export destinations. Learn more about Domty by visiting Domty.org
Contact
Ahmed Mohy EldinInvestor Relations and Corporate Affairs DirectorT: +202- 010 - 0555 2235| ahmed.mohy@domty.org