15 May 2018 10:53
Board of Directors meeting held on May 14, 2018
Cairo May 15, 2018
The Board of Directors in its meeting on May 15, 2018 unanimously resolved the following:
1- Approved the minutes of the previous Board of Directors meeting.
2- Approved the audit committee report for the financial period ended on March 31, 2018.
3- Approved the restated consolidated and standalone financial statements for the financial year ended on December 31, 2017 and the restated consolidated and standalone financial statements for the financial year ended on December 31, 2016 and delegated the Chairman to invite the shareholders to a general assembly meeting to approve the restated financial statements. The financial statements were amended to reclassify the share premium of LE 292,789,166 and to add LE 9,366,743 in the legal reserve account. The balance of the legal reserve account amounted to LE 28,260,870 to reach 50% of the issued and paid up capital, the difference amounting to LE 283,422,423 was recorded as a special reserve account (share premium) in accordance with Article 94 of the Executive Regulations of Law No. 159 of 1981 and the Company's Articles of Association, this reclassification entry will have no impact on the income statements of Domty and also will not affect the total equity of the company.
4- Approved the consolidated and standalone financial statements for the financial year period ended on March 31, 2018
5- Approved the auditor's limited review report for the consolidated and standalone financial statements for the financial period ended on March 31, 2018.
-Ends-
HIGHLIGHTS OF THE CONSOLIDATED INCOME STATEMENT:
Complete financial statements for 1Q2018 can be downloaded at domty.org
(Numbers in EGP million):
Description | 1Q2018 | 4Q2017 | 3Q2017 | 2Q2017 | 1Q2017 |
Net Sales | 591.9 | 615 | 680 | 487 | 471 |
Gross profit | 141.6 | 137.4 | 132 | 95 | 87 |
Gross Profit Margin | 23.92% | 22.35% | 19.48% | 19.58% | 18.52% |
EBIT | 76.6 | 65.3 | 55 | 39 | 4 |
EBIT Margin | 12.94% | 10.62% | 8.11% | 7.95% | 0.93% |
Net Profit Before Tax | 52.4 | 40.1 | 30 | 15 | - 5 |
Profit Margin Before Tax | 8.86% | 6.52% | 4.45% | 3.12% | -1.05% |
Net Profit | 40.5 | 33 | 22 | 12 | - 6 |
Net Profit Margin | 6.84% | 4.97% | 3.30% | 2.47% | -1.27% |
EBITDA | 91.5 | 80 | 69 | 51 | 19 |
EBITDA Margin | 15.46% | 13.01% | 10.18% | 10.49% | 4.08% |
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
DOMT.L (DOMT)