Cairo – Mubasher: The board of Arabian Food Industries Co (Domty) has approved to establish a new branch and a distribution office in Rwanda.
This decision is a part of the company’s expansion plan in the African markets, the dairy products firm highlighted in a statement to the Egyptian Exchange (EGX) on Sunday.
The new distribution office will focus mainly on white cheese products, according to the firm’s official website.
The Egyptian company is currently in talks over entering the Kenyan markets, the firm added.
Domty noted that it has postponed negotiations over breaking into the Ethiopian market because of the US dollar crisis it witnesses.
The food industries company posted profits of EGP 22 million in the three months ended September, versus EGP 10 billion in the prior-year period.
Meanwhile, the third-quarter sales rose to EGP 680 million from EGP 453 million in Q3-16.
Domty’s stock closed Sunday’s trading session down 0.88% at EGP 9.04.
