Juhayna’s profit jumps to LE 81M in Q1 2018

CAIRO – 23 April 2018: Juhayna Food Industries marked a 38.5 percent increase in its first quarter consolidated profits in 2018, recording LE 80.72 million ($4.5 million), compared to LE 58.26 million during the same period of 2017.

The consolidated revenues recorded LE 1.55 billion, compared to LE 1.28 billion in the same period of the previous year, with an increase of 21 percent on a year-on-year basis, the company’s financial indicators showed.

The company attributed the increase in its net profit to the decrease in the debts and cost of debts, in addition to the enhancement in the purchase and the effect of the measures the company has taken, according to Juhayna’s statement.

As per standalone profit, Juhayna turned into profitability in Q1 of 2018 by LE 88.19, compared to a loss of LE 5.9 million in Q1 of 2017.

The Egyptian dairy, yogurt and juice manufacturer gained LE 197.7 million in 2017, compared to LE 53.6 million in 2016, with an increase of 268 percent.

The company’s shares rose 1.54 percent by 12:22 p.m. of Monday’s session to reach LE 13.20.

Juhayna was established in 1995 and joined the Egyptian Exchange (EGX) in May 2010. It operates within the food, beverage and tobacco sector, focusing on packaged foods with six subsidiaries operating across Egypt.