Egypt’s Juhayna Q1 Net Profit 55% Down

Juhayna Food Industries (JUFO.CA) , one of Egypt’s largest dairy product and juice makers, reported a decline of 55% in its consolidated net profits to 43.185 million Egyptian pounds ($6.07 million) for the first quarter of 2014.

In Q1/2013, Juhayna made a net profit worth 95.87 million Egyptian pounds.

Meanwhile, the Egypt-based firm recorded a Q1 standalone net profit amounting to 177.974 million Egyptian pounds ($25 million), compared to 105.744 million Egyptian pounds posted a year earlier.