15 Nov 2017 08:03
Board of Directors meeting held on November 14, 2017
Cairo November 15, 2017
The Board of Directors in its meeting on November 14, 2017 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 period ended on September 30, 2017.
3- Approved the external auditor's limited review report for the consolidated and standalone financial statements for the financial period ended on September 30, 2017.
4- Approved the audit committee report for the financial period ended on September 30, 2017.
-Ends-
Summary financial statements follow. Complete financial statements can be downloaded at domty.org
I. Consolidated Income Statement
(EGP mn) | 9M17 | 9M16 | 3Q17 | 3Q16 |
Net Sales | 1638.5 | 1239.6 | 680.1 | 453 |
Cost of Sales | (1323.4) | (965.6) | (547.6) | (365) |
Gross Profit | 315.1 | 274 | 132.5 | 88 |
Gross Profit Margin | 19.2% | 22.1% | 19.48% | 19.42% |
Sales & Marketing Expenses | (212.4) | (168.1) | (70.6) | (67.4) |
General & Administrative Expenses | (27.4) | (23.7) | (9) | (8.6) |
Total SG&A | (239.8) | (191.8) | (79.6) | (76) |
Other Income | 23 | 18.4 | 2.3 | 9.4 |
Provisions (including reversals) | (0.028) | (0.16) | (0.023) | (0.004) |
Operating Profits | 98.2 | 100.4 | 55.1 | 21.3 |
Operating Profit Margin | 6% | 8% | 8.1% | 4.7% |
Interest Income | 14.9 | 11.9 | 6 | 6 |
Interest Expense | (72.6) | (38.9) | (30.9) | (13.8) |
Net Profit Before Tax | 40.5 | 73.4 | 30.2 | 13.5 |
Income Tax | (12.1) | (18.5) | (7.8) | (3.5) |
Net Profit | 28.4 | 54.9 | 22.4 | 10 |
Net Profit Margin | 1.7% | 4.42% | 3.29% | 2.2% |
II. Consolidated Balance Sheet
(EGP mn) | 30-9-2017 | 2016 |
Cash & Equivalents | 133.8 | 288.3 |
Treasury Bills | 80.9 | - |
Inventory | 229.4 | 274 |
Receivables | 543.2 | 371.2 |
Prepayments & Other Receivables | 244.1 | 171.5 |
Total Current Assets | 1231.4 | 1105 |
PP&E (Net) | 375.9 | 353.5 |
Projects Under Construction | 225.3 | 175 |
Total Non-Current Assets | 601.2 | 528.5 |
Total Assests | 1832.6 | 1633.5 |
Short-Term Debt | 869.9 | 798.6 |
CPLTD | 10.3 | 12 |
Machine Installments - CP | 46.9 | 50 |
Payables | 215.2 | 97.3 |
Provisions | 9.4 | 12.6 |
Accruals & Other Payables | 42.2 | 40.8 |
Income Tax Payable | 9 | 6.1 |
Total Current Liabilities | 1202.9 | 1017.4 |
LT Debt | 7.2 | 14.9 |
Machine Installments - LT | 67.5 | 76.8 |
Sales Tax on Machines & Equipment | 3.7 | 4.5 |
LT Notes Payable | 0.2 | 0.3 |
Deferred tax liabilities | 24 | 21 |
Total Non-Current Liabilities | 102.6 | 117.5 |
Total Equity | 527.1 | 498.6 |
Total Equity & Liabilities | 1832.6 | 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
Contacts
Ahmed El HomosaniInvestor Relations and Corporate Affairs DirectorT: +202- 010 - 6665 4045| ahmed.elhomosani@domty.org
Ahmed Mohy EldinCompliance and Corporate Governance ManagerT: +202- 010 - 0555 2235| ahmed.mohy@domty.org