An employee works with juice and milk products at a Juhayna factory on the outskirts of Cairo, Egypt, May 24, 2016 - REUTERS/Mohamed Abd El Ghany
CAIRO – 18 July 2018: Juhayna Food Industries’ consolidated results hiked 180.38 percent during the first half of 2018, recording LE 239.85 million ($13.38 million), compared to LE 85.54 million including minority rights during the same period of 2017.
The consolidated revenues increased 22 percent to reach LE 3.48 billion, marking a net profit of LE 240 million.
As per the second quarter of 2018, the company achieved a 23 percent increase of its consolidated revenues, recording LE 1.93 billion, with a net profit of LE 159 million.
The company attributed the increase in its net profit during the second quarter of 2018 to the improvement in purchase power, and the measures Juhayna took such as optimizing sales, while improving the efficiency and productivity of the whole company.
As per standalone profit, Juhayna marked a profit of LE 84.68 million, compared to LE 75.63 million during the same half of 2017, with an 11.97 percent increase.
The Egyptian dairy, yogurt and juice manufacturer gained LE 80.72 million in the first quarter of 2018, compared to LE 58.26 million in the same quarter of 2017, with an increase of 38.5 percent.
In 2017, the company gained LE 197.7 million, compared to LE 53.6 million in 2016, with an increase of 268 percent.
The company’s shares rose 1.62 percent by 12:55 p.m. in Wednesday’s session to reach LE 11.28.
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.