Domty sees 10.29% profit surge in 2024, net sales hit US$184.5M

EGYPY –  Arabian Food Industries Company (Domty), the Egypt-based dairy giant, has achieved remarkable financial growth in 2024, with consolidated net sales surpassing US$181 million. 

According to the company’s latest financial results, consolidated net profits after tax reached US$10.023 million in 2024, reflecting a significant increase from US$9.089 million the previous year. 

This marks a 10.29% year-on-year profit surge, highlighting Domty’s strong performance in the competitive dairy market.

The company’s consolidated net sales climbed to US$184.5 million in 2024, up from US$150.08 million in 2023, driven by robust demand for its diverse product portfolio. 

Domty, a well-known name in Egypt, specializes in producing and selling dairy products such as Tetra Pak cheese, plastic tube cheese, mozzarella, spread cheese, milk products, and juices. 

Earnings per share (EPS) also saw an uptick, rising to US$0.0288 in 2024 from US$0.026 the year prior, a clear indicator of improved profitability. 

A report by Domty further revealed that the board of directors has recommended a cash dividend of US$0.017 per share, signaling confidence in the company’s financial health and a commitment to rewarding shareholders.

However, the standalone financial statement painted a slightly different picture. Domty recorded a decline in standalone net profits after tax, which dropped to US$9.886 million in 2024 from US$10.218 million in 2023. 

Similarly, the standalone EPS edged down to US$0.0284 from US$0.0294 the previous year. Despite this dip, the company’s overall consolidated performance remains a testament to its resilience and strategic focus.

“We are proud of our achievements in 2024, as our consolidated sales and profits reflect the hard work of our team and the loyalty of our customers,” Domty said. 

The company’s leadership remains optimistic about its future growth trajectory. “Our proposed dividends demonstrate our dedication to delivering value to our shareholders while continuing to invest in our operations,” the spokesperson added.

Domty’s success in 2024 comes as Egypt’s food industry continues to play a vital role in the national economy. 

With its wide range of dairy and juice products, the company has solidified its position as a key player in the sector. 

As it moves forward, Domty aims to sustain its upward momentum, leveraging its strong brand and innovative offerings to meet growing consumer demand both domestically and regionally.

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