Egypt’s food company Juhayna profits 60% up in Q1-2020

Egyptian Juhayna Food Industries’ profits rose 60 percent year-on-year during the first quarter of 2020, its financial statements showed on Monday.

The company achieved net profits worth 113.62 million Egyptian pounds ($7.2 million) during the first quarter of 2020, up from 71.14 million during the same period in 2018, according to a bourse filling.

Sales surged to 1.78 billion pounds during the January-March 2020 period from 1.73 billion pounds a year earlier.

As for standalone profits, they dropped to 95.88 million pounds during the first quarter of 2020 against 137.25 million pounds during the same period last year.