Egypt’s giant dairy maker Juhayna Food Industries eyes injecting investments estimated at 600 million Egyptian pounds (US$76.6 million) among its expansion plans for 2016.
In a statement sent to EGX on Tuesday, Juhayna stated that those investments are set to be dedicated for buying new production line to boost the capacity notably juice production line as pursuant to the local and foreign demands.
Juhayna also stated that it targets enhancing logistic services sector through establishing four selling and distribution units in Delta and Upper Egypt.
A part of the aforementioned new investments will be directed towards completing the company’s new dairy farm, the company added.
According to the statement, Juhayna has achieved total sales of 4.2 billion pounds during the fiscal year ended 31 December 2015, registering 14 percent growth rate.
Juhayna’s consolidated financial lists showed an increase of 64.6% in net profits for the fiscal year ended 31 December 2015.
On other side, the stand alone financial lists stated that the dairy maker has attained net profit estimated at 264.5 million pounds.
The company’s profits stood at 279.9 million pounds in 2015, up from 170.1 million pounds a year earlier.