Egypt’s dairy maker Juhayna profits rise 138.3% in nine months

Egyptian Juhayna Food Industries’ consolidated results surged 138.3 percent during the first nine months of this year, recording 359.5 million Egyptian pounds ($20.03 million) from 150.86 million pounds last year.

The consolidated gross profit increased 17.52 percent to reach 1.59 billion pounds, compared to 1.35 billion pounds in the same nine months of 2017.

As per the results of the third quarter, the net profit jumped 83.15 percent to hit 119.63 million pounds, compared with 65.32 million pounds in the third quarter of 2017.

The company clarified in a filing to the Egyptian Exchange (EGX) that gross profit of July-to-September 2018 recorded 533.17 million pounds, compared to 503.59 million pounds in the same months of 2017.

Juhayna’s consolidated results hiked 180.38 percent during the first half of 2018, recording 239.85 million pounds, against 85.54 million pounds, including minority rights during the same period of 2017.

In 2017, the company gained 197.7 million pounds, compared to 53.6 million pounds in 2016, with an increase of 268 percent.

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.

Source: Egypt Today