The Clap
Domty turned profitable in Q1-2022, recording net profits of EGP 50.4 million, compared to losses of EGP 3.4 million in Q1-2021.
Profit drivers
Despite inflation, profits were driven by growth in Domty’s three sectors. The dairy, bakery, & juice sectors saw their revenues increase 74.1%, 86.8%, and 35.4%, respectively YoY.
Domty suffered currency exchange losses of EGP 12 million due to the devaluation of the pound in March 2022.
Why this matters
The company pointed to the rising cost of raw materials due to inflation. The company is trying to increase its prices to consumers gradually so demand isn’t affected.
For Domty’s full earnings release, click here.
