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Tuesday, 27 December 2016

EGP float did not impact Domty’s cheese sales in October and November

Remember the Econ 101 class about inelastic demand? Food producer Domty announced that the EGP flotation had no negative impact on its sales in November. The company’s white cheese sales, accounting for 60% of Domty’s revenues, inched up 2% in October and November combined, according to an EGX statement. Even though the float only took place on 3 November, Domty did not provide a breakdown for the sales in November alone. The company also said it increased its product prices in December and will introduce another round of price increases in January 2017 to “absorb the impact of the EGP flotation.”

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