Domty signs 2 contracts with America's AMF to supply production lines worth 2.4 million euros

CAIRO – 7 September 2021: The Arab Food Industries Company - Domty signed, with the American company AMF, two contracts to supply the fourth line of baked goods and the first line for the production of croissants, with a total investment of 2.4 million euros.

Mohamed El-Damaty, managing director of the company, said in a statement to the Egyptian Stock Exchange (EGX), Tuesday that "Domty" is operating with a capacity of 90 percent of the three production lines of baked goods, expecting to reach the maximum capacity at the beginning of the school year.

The company expected to operate the new lines in the middle of next year, noting that it is negotiating with Tetra Pak to expand the capacities of the juice factory.

Domty recorded a net loss of LE 3.43 million from the beginning of January until the end of last March, compared to profits of LE 32.1 million during the same period in 2020, taking into account the non-controlling rights.

The company's sales declined during the first three months of 2021, reaching LE 647.08 million at the end of March, compared to LE 744.8 million during the same quarter of 2020.

As for standalone results, the company turned to losses during the first quarter, as it incurred LE 4.9 million at the end of March, compared to LE 29.1 million in profits during the same period of prior year.

Arabian Food Industries Co. operates within the food, beverage & tobacco sector focusing on packaged foods & meats.